TRIPLC Bhd net profit tumbles 30% in 1Q

KUALA LUMPUR: TRIPLC Bhd in its 1Q financials ended Aug 31, 2010, recorded a 30% drop in net profit to RM252,000 from RM360,000 a year ago.

The group in its filing with Bursa Malaysia on Wednesday, Oct 27 also reported a 93.5% drop in revenue to RM2.177 million from RM33.855 million the previous year.

"The operational performance for the current financial period was lower than the corresponding period in the prior year due to the completion of the construction project at UiTM Puncak Alam in the previous financial year," the group said. "The current quarter revenue was contributed by the sale of bungalow lots at Bandar Puncak Perdana."

The basic earning per share dropped to 0.18 sen from 0.25 sen a year ago. The net assets per share rose to RM0.2410 from RM0.2400.

TRIPLC Bhd is an investment holding company that engages in residential and commercial property development in Malaysia.