E&O earnings up despite lower revenue

E&O said joint-venture (JV) projects namely The Mews, Conlay and Avira Garden Terraces (file pic) contributed a total revenue of RM30.7mil during the financial period ended Dec 31, 2021, as compared to revenue of RM39.2mil achieved a year earlier.

KUALA LUMPUR: Eastern & Oriental Bhd’s (E&O) net profit for its third quarter ended Dec 31, 2021 rose to RM7.83mil from RM832,000 in the previous corresponding period, while revenue dropped to RM23.38mil from RM36.52mil a year earlier.

For the nine-month period ended Dec 31, 2021, E&O reported a net loss of RM15.26mil compared with a net profit of RM1.95mil in the previous corresponding period, while revenue stood at RM83.79mil compared with RM165.53mil a year earlier.