Strong sales by EcoWorld Malaysia

EcoWorld Malaysia president and chief executive officer Datuk Chang Khim Wah said the group is grateful to its customers for the strong sales of RM911mil, as the group managed to sustain the sales momentum since the second half of last year.

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.