The higher revenue and greater emphasis on cost efficiency as well as lower finance costs helped the company to turn around to post a net profit of RM1.5mil compared with a net loss of RM2.9mil in the same period last year, it said in the notes accompanying its results.
Compared with the preceding quarter, the company said it turned in a pre-tax profit of RM1.6mil in the first quarter from a RM800,000 loss in the three months to August due to improvements in revenue and lower finance costs. – AFX
Malakoff posted net profit of RM84.375mil in the first quarter last year.
The company posted first-quarter sales of RM404.798mil compared with RM389.432mil a year ago.
However, net profit fell quarter-on-quarter due to a decline in contribution from the GB3 plant, which was affected by plant shutdown for conversion to combined cycle mode during the first quarter. – AFX
At the same time, the company had called off earlier plans to issue RM180mil worth of five-year, 3% redeemable bonds, which it had announced on Dec 20 2001, it said.
In a statement, Malaysian Plantations said the commercial papers would be fully underwritten while the mid-term notes would be privately placed.
MBfPS, which is involved in the provision of property management and consultancy services to developers, has accumulated losses of RM417.93mil and negative shareholders’ funds of RM415.93mil.
The disposal is part of the rationalisation and streamlining exercise of the MBf group. – Bernama
It said the property would be used by the group as offices and was in line with PDZ’s rationalisation programme of centralising the operations and support functions of the group at Port Klang.
Agency offices continue to remain at various locations namely Kuching, Kota Kinabalu, Port Klang and Singapore. – Bernama
For the year ended Dec 31, 2002, LPIs pre-tax profit increased to RM36.292mil from RM31.063mil in the previous year, while net profit rose to RM28.443mil from RM26.843mil. Revenue increased to RM292.419mil from RM218.577mil. – Bernama
This was achieved on the back of higher turnover recorded in the same quarter at RM69.92mil compared with RM52.21mil previously. – Bernama
Its revenue decreased to RM1.4mil in the same period compared with RM1.57mil previously. – Bernama
The higher revenue and greater emphasis on cost efficiency as well as lower finance costs helped the company to turn around to post a net profit of RM1.5mil compared with a net loss of RM2.9mil in the same period last year, it said in the notes accompanying its results.