Slow sales eat into developer’s profit

Impressive: Naim sales and marketing general manager Tony Lau during the launch of the Sapphire on the Park last year.

KUCHING: Naim Holdings Bhd says it will adopt a cautious approach, especially on product launches and product types, as the group’s earnings have been dragged down by slower sales of properties and losses incurred by its construction arm.

In the first quarter ended March 31, 2015, the property developer’s group pre-tax profit fell to RM21.3mil from RM101.9mil in the previous corresponding period as revenue declined to RM126.7mil from RM154.1mil.