PETALING JAYA: Plantation company United Malacca Bhd
saw its net profit for its first quarter ended July 31, falling by 10 times to RM3.55mil from RM36.95mil in the same quarter a year ago.
The company’s financial statements filed with Bursa Malaysia showed that its bottom line in the same quarter a year ago had been supported by a RM53.89mil gains on disposal of non-current assets otherwise it would have reported a net loss in the last year’s first quarter.
Revenue in the recent first quarter had doubled to RM86.79mil from RM43.33mil in the same quarter a year ago.
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