Seloga post pre-tax profit of RM6.4mln

KUALA LUMPUR: Seloga Holdings Bhd posted a pre-tax profit of RM6.4 million for its second quarter (2Q) ended June 30, 2010, on the back of revenue of  RM15.6 million.

Pre-tax profit rose 56% from RM4.12 million pre-tax profit posted in the same period a year ago, while revenue increased 69% from RM9.2 million posted for the same period a year ago, the company said on Tuesday, Aug 24.

The company attributed the higher revenue to the sales of commercial lands in the housing development at Taman Nusantara, Nusajaya, Iskandar Development Region (IDR), Johor.

For the six months period during the current financial year, it recorded a net profit of RM7 million during the corresponding period, mainly attributed by an increase for provision of taxation of RM1.8 million.

Meanwhile the shareholders’ equity/funds totals RM48.7 million as at June 30, 2010.