TA Global records net profit of RM7.4m in 2Q

KUALA LUMPUR: TA Global Bhd recorded a net profit of RM7.41 million compared with RM5.51 million a year ago for its 2Q financial results ended July 31, 2010.

The company announced to Bursa Malaysia on Wednesday, September 22 that revenue earned during the quarter was RM83.11 million compared with RM86.64 million a year ago.

The Group attributed the results due to decreased contribution from the property development unit.

“The Group has achieved 82% of sales for its latest 27-units bungalow development at Damansara Idaman as at 31 July 2010,” the company said.

“The Group has also registered very encouraging sales for its latest launch of commercial offices at Damansara Avenue. The recovery of the Singapore economy has benefited the business of the new Swissotel Merchant Court Hotel in Singapore,” it added.

The basic earning per share during the current quarter in review is 0.15 sen from 0.11 sen a year ago.

Net assets per share for the same quarter was RM0.38 compared with RM0.37 the previous year.

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