Tradewinds Corp's pre-tax profit for 1Q dips to RM14.68 million

KUALA LUMPUR: Tradewinds Corp Bhd's pre-tax profit for the first quarter ended March 31, 2013 dipped to RM14.68 million from RM19.33 million in the same quarter of last year. Revenue, however, increased to RM128.33 million from RM127.31 million previously.

In a filing to Bursa Malaysia today, Tradewinds said the decrease in the pre-tax profit was mainly due to lower results from the properties division. This was however offset by better results from financial services and other divisions compared to the corresponding period last year. The increase in revenue was mainly due to higher revenue generated from the properties, manufacturing, trading and financial services divisions.

On prospects, Tradewinds said the re-development of Menara Tun Razak and the completion of Tradewinds Centre will have a positive impact in the longer term for the group.

The renovation of certain hotels - which are being completed in stages - are also expected to benefit the group in the medium to long term. - Bernama