YTL Land & Development records 43% increase in revenue for 2Q2010

KUALA LUMPUR: YTL Land & Development Bhd posted a 43% increase in revenue for 2Q2010 (ending Dec 31, 2009) to RM84.21 million, from RM58.887 in 2Q2009. Its profit before tax for 2Q2010 was RM6.48 million compared with RM0.69 million in 2Q2009.

According to the company’s statement to Bursa Malaysia on Feb 25, the increase in revenue and profit before taxation was mainly contributed by the sales of completed units recorded for Waterville and Parkville under the Lake Edge project in Puchong, as well as higher progress recognition from the Centrio under the Pantai Hill Park project in Kuala Lumpur.

The group expects to achieve a satisfactory performance for FY2010 after considering the recent sales recorded.