Malton sipeh ugly earning

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Malton’s 2Q earnings down 48% to RM7.18m after projects completed
Business & Markets 2012
Written by Syarina Hyzah Zakaria of   
Friday, 24 February 2012 19:22
KUALA LUMPUR (Feb 24): Property developer MALTON BHD []'s earnings fell 48.3% to RM7.18 million in the second quarter ended Dec 31, 2011 from RM13.90 million a year ago due to the completion of various projects.
It said on Friday, its revenue decreased 28.8% to RM77.74 million from RM109.29 million. Earnings per share were 1.72 sen compared to 3.99 sen a year ago.
Malton attributed the decline in profit and revenue to its Amaya Saujana and Mutiara Indah projects which were being completed.
However, other on-going projects such as Bukit Rimau, V Square, Amaya Maluri and Mutiara Residence contributed positively to its earnings.
For the first half ended Dec 31, 2011, revenue dipped 0.6% to RM177.02 million from RM178.07 million. Net profit fell marginally to 0.8% to RM19.29 million from RM19.45 million.