Selangor Prop records net profit of RM7.5m for 3Q

KUALA LUMPUR: Selangor Properties Bhd recorded a net profit of RM7.5 million for its third quarter (3Q) financial reports, down from RM33.3 million a year ago. Revenue collected was RM42.5 million compared with RM70.5 million the previous year.

The cumulative figures for the current year to-date showed a net loss of RM11.3 million compared with a net loss of RM3.5 million a year ago. Revenue collected during this period was RM150.8 million versus RM166.6 million last year.

The Group in its filing with Bursa Malaysia on Thursday, Sept 23, said that the main contributors to its 3Q results are from property development, investment properties and education.

“Higher profit in the preceding year corresponding quarter was because of higher unrealized foreign exchange gain and higher profit from property development,” it said.

The basic earnings per share for the current quarter is 2.19 sen, down from 9.69 sen a year ago. Net assets per share at the end of the current quarter is RM4.97.

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