KUALA LUMPUR: The Nomad Group Bhd’s pre-tax profit for the first quarter ended March 31, surged to RM6.9 million from RM1 million in the previous corresponding period.
Revenue, however, fell to RM17.25 million from RM18.25 million.
The group said the increase in pre-tax profit was mainly due to higher occupancy and average room rates for its hotels and serviced residences, and low operating costs.
The profit from the sale of a piece of land and a nine-storey office building in Indonesia also contributed to a higher pre-tax profit, the group said in a filing with Bursa Malaysia yesterday.
The group expects the business environment in which it is operating now to remain challenging for the 2013 financial year. — Bernama
This article first appeared in The Edge Financial Daily, on May 10, 2013.
TOP PICKS BY EDGEPROP
Twin Key Best Investment Project With 0 Booking
Richmond Mont Kiara 4 rooms 3 bathrooms
Mont Kiara, Kuala Lumpur
Single Storey Terrace House,Taman Selaseh Bt.Caves
Batu Caves , Selangor
[ Confirm Rental Get RM 3000 ] Students Condo
[ Europe Style Duplex Condo ] ROI 9% Cash Back
Student Rental RM1800 Cover Instalment! Freehold
Invest Dual Key Unit GRR 9 years RM280k
[ Beside Korean MaLL ] Tourist Client , Airbnb
NON BUMI Taman United OUG, Old Klang Road, KL
Jalan Klang Lama (Old Klang Road), Kuala Lumpur
Fully Furnished Bungalow Seksyen 2 Shah Alam
Shah Alam, Selangor
[ READY TENANT+ COVER INSTALLMENT ] Hotel Suites