| Malton’s 2Q earnings down 48% to RM7.18m after projects completed |
| Business & Markets 2012 |
| Written by Syarina Hyzah Zakaria of theedgemalaysia.com |
| 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. |