EWI reports net profit of RM5.19mil in Q1

The number of private unit deliveries is expected to increase further in the remaining quarters of FY20, driven by the completion of Wardian in London, West Village and Yarra One in Australia. File pic shows The Sky Lounge at Wardian, a project by EcoWorld Ballymore in London

KUALA LUMPUR: Eco World International Bhd’s (EWI) net profit fell to RM5.19mil in the first quarter ended Jan 31 from RM22.75mil a year ago due to higher revenue and profit recognised in the previous corresponding quarter by its joint ventures in the UK.

Following the completion and handover of higher number of units to customers in the first quarter of 2019, the property developer said it recognised a total of RM46.65mil as its attributable share of profit from its joint ventures last year.