KUALA LUMPUR: Property developer Eupe Corp Bhd’s net profit rose to RM16.2mil for the second quarter ended Aug 31,2020 (Q2’FY21)from RM10.33mil in the same quarter a year ago.
Eupe said the improvement reflects the consistent contributions from its property development division.
“(There are) high sales take-up rate and solid momentum in the construction progress of Parc3@KL South, with Novum@South Bangsar handed over to buyers in June this year.
“Novum and Parc3 contributed a combined increase of RM39.9mil due to high sales take-up rate and solid momentum in Parc3’s construction progress, as well as Novum’s contribution from its delivery of vacant possession in June 2020, ” it said in a filing with Bursa Malaysia yesterday.
Meanwhile, Eupe said the revenue improvement in Q2’FY21 of RM121.46mil compared to RM30.4mil in Q1’FY21 was mainly due to the lifting of movement restrictions.
“It allowed the group’s development projects to resume from May 2020, coupled with the delivery of vacant possession of the Novum project during the quarter under review, ” it added.
On future prospects, Eupe said it remains firmly focused on design and construction efficiencies as it continues to develop its projects in the Klang Valley.
“Eupe remains confident that its product planning around clear points of design and lifestyle differentiation is resilient to meet new challenges, ” it added. — Bernama
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