MRCB net profit up 39% at RM33.45mil in sec­ond quar­ter

The Star Malaysia - StarBiz - - News -

PE­TAL­ING JAYA: Malaysian Re­sources Corp Bhd’s (MRCB) net profit for its sec­ond quar­ter ended June 30, 2018 rose 39% to RM33.45mil from RM24.05mil in the pre­vi­ous cor­re­spond­ing pe­riod.

The re­sults were boosted by im­proved con­tri­bu­tions from its engi­neer­ing, con­struc­tion and en­vi­ron­ment divi­sion.

In a fil­ing with Bursa Malaysia, the con­struc­tion and prop­erty de­vel­op­ment com­pany said earn­ings were also bol­stered by the fact that there were no op­er­at­ing losses recorded from the ces­sa­tion of the Eastern Dis­per­sal Link’s toll collection.

Rev­enue in the sec­ond quar­ter dropped to RM405.25mil from RM725.27mil a year ear­lier.

For the six-month pe­riod ended June 30, 2018, the com­pany’s net profit in­creased to RM54.98mil from RM32.69mil, while rev­enue dropped to RM832.85mil from RM1.25bil a year ear­lier.

It said the main rev­enue con­trib­u­tors in the first half of 2018 were the group’s on­go­ing prop­erty de­vel­op­ment.

These in­clude 9 Se­puteh in Jalan Klang Lama, PJ Sen­tral Gar­den City, Sen­tral Suites and Kal­ista Park Homes, as well as the sales of com­pleted units at Sen­tral Res­i­dences, Q Sen­tral and Eas­ton Bur­wood.

Un­billed prop­erty sales at the end of the first half of 2018 to­talled RM1.7bil.

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