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YNH Property profit up 31%

KUALA LUMPUR: YNH Property Bhd saw a 31% rise in net profit for its first quarter ended March 31 (1QFY13) to RM11 million from RM8.4 million in 1QFY12. This was due to stronger contribution from its Fraser Residence project.

Revenue stood at RM80.7 million, 52% higher than 1QFY12’s revenue of RM53 million. The group’s performance for this year was mainly derived from sales of Fraser Residence Kuala Lumpur, commercial properties, sales of its inventories and sales of development land.

 

This article first appeared in The Edge Financial Daily, on May 29, 2013.

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