PETALING JAYA: Fiamma Holdings Bhd recorded an 8% increase in its net profit for the second quarter ended March 31, due to the higher contribution from its property segment.
Net profit for the quarter rose to RM6mil as compared to RM5.55mil in the same quarter the preceding year while revenue increased 7% for the quarter to RM79.64mil.
Compared with the previous quarter ended Dec 31 2018 however, the group’s revenue was RM510,000 lower on the back of lower contribution from both its trading, services and property development segments.
Year-to-date, Fiamma’s net profit jumped 10.9% while revenue rose 7.6%.
The group said in its filing with Bursa Malaysia yesterday that it expects the performance of the current financial year to remain challenging but it will continue to remain focused on expanding its existing core businesses.