SPB reports lower 1Q profit

KUALA LUMPUR: Selangor Properties Bhd (SPB) reported a net profit of RM5 million in the first quarter (1Q) for the financial year ending Oct 31, 2011, compared to RM6.7 million in the preceding year, corresponding with the main contributors from the property development, investment properties and education.

In a filling to Bursa Malaysia on Friday, Mar 25, the company posted a revenue of RM46.8 million, compared to RM55.9 million a year ago. Earnings per share stood at 1.47 sen, compared to 1.97 sen a year ago.

On future prospects, the company said that it remains positive on its Malaysian and Australian operations.