Wednesday, November 24, 2010

Naim Holdings 3Q earnings jump 72%

KUALA LUMPUR: NAIM HOLDINGS BHD []'s earnings jumped 72% to RM36.94 million in the quarter ended Sept 30, 2010 from RM21.39 million a year ago mainly due to higher sales of PROPERTIES [] and substantial completion of certain CONSTRUCTION [] projects.

It said on Wednesday, 24, revenue slipped 2.4% to RM140.99 million from RM144.46 million. Earnings per share were 15.59 sen compared with 9.03 sen. It declared dividend of 5.0 sen a share.

However, when compared to 2Q, group revenue of RM156 million, there was a decline of RM15 million. Group profit before tax increased substantially to RM50 million from RM30 million in 2Q'' mainly due to recognition of variation orders for and cost savings in certain projects.

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