Wing Tai's 4Q net profit surges

KUALA LUMPUR: Property and apparel outfit Wing Tai Malaysia Bhd posted a net profit of RM53.28 million on the back of RM99.10 million in revenue for 4QFY11 ended June.

During 4Q, Wing Tai's earnings per share was 17.03 sen. In contrast to a year ago, net profit surged by 185.53% while revenue gained marginally by 4.26%.

For the cumulative quarters, Wing Tai — previously known as DNP Holdings Bhd — recorded a net profit of RM100.41 million for its financial year ended June 30 compared with RM53.2 million in the same period last year.

Its revenue rose by 4% to RM369.8 million in FY11 from RM354.2 million last year.

Wing Tai is a subsidiary of Singapore-listed Wing Tai Holdings Ltd, a leading property developer and lifestyle group in the island republic.

In November last year, it was reported that Wing Tai had some RM2.4 billion gross development value in residential projects in hand, taking into account ongoing developments as well as those to be launched within six to 12 months.

Wing Tai was up one sen to close at RM1.71 on Monday.

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