KUALA LUMPUR: Eco World Development Group Bhd’s (EcoWorld Malaysia) net profit jumped 71% to RM62.4mil in the first quarter ended Jan 31,2021, from RM36.50mil a year ago bolstered by a 60% increase in the group’s share of results from joint ventures, in line with the substantially higher profits recorded by EcoWorld International.
The property developer said cost-saving measures implemented last year led to a decline in administrative expenses by 15.7% compared to a year ago, which contributed to the jump in net profit for the quarter.