news

Wing Tai Malaysia 4Q net profit surges 185% to RM53.28m

KUALA LUMPUR: Wing Tai Malaysia Bhd's earnings surged 185%  to RM53.28 million in the fourth quarter ended June 30, 2011 from RM18.65 million a year ago and expects its property development and apparel and lifestyle divisions to boost its earnings in the new financial year.

It said on Monday, Aug 15 revenue rose 4.2% to RM99.10 million from RM95.05 million, earnings per share were 17.03 sen from 6.01 sen.

For the financial year ended June 30, its net profit nearly doubled to RM100.41 million from RM53.24 million. Its revenue rose 4.4% to RM369.81 million from RM354.25 million, mainly due to higher revenue from the trading and property development divisions.

It proposed dividend of five sen per share single tier and special dividend of three sen per share single tier for the financial year ended June 30 amounting to RM25.0 million.

"For the next financial year, the property development and apparel and lifestyle divisions are expected to contribute positively to the group's earnings," it said.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE