KUALA LUMPUR: Brem Holding Bhd net profit for the fourth quarter ended March 31, 2011 surged to RM26.72 million from RM2.12 million a year earlier, due mainly to the reversal of allowance for impairment of RM21.5 million.
Revenue for the quarter rose to RM27.74 million from RM20.69 million in 2010. Earnings per share was 20 sen while net assets per share was RM3.12.
The company proposed a gross dividend of five sen per share for the financial year ended March 31.
For the financial year ended March 31, Brems' net profit jumped to RM43.96 million from RM11.75 million on the back of revenue RM138.71 million.
Reviewing its performance on Monday, May 30, Brem said the increase of revenue and profit was mainly due to the revenue recognition of new project in the property development division and the reversal of allowance for impairment of RM21.5 million.
On its prospects, Brem said that barring any unforeseen circumstances, it expects the next financial year overall performance to be favourable with better performance from the property development division and contributions from associated company.
Revenue for the quarter rose to RM27.74 million from RM20.69 million in 2010. Earnings per share was 20 sen while net assets per share was RM3.12.
The company proposed a gross dividend of five sen per share for the financial year ended March 31.
For the financial year ended March 31, Brems' net profit jumped to RM43.96 million from RM11.75 million on the back of revenue RM138.71 million.
Reviewing its performance on Monday, May 30, Brem said the increase of revenue and profit was mainly due to the revenue recognition of new project in the property development division and the reversal of allowance for impairment of RM21.5 million.
On its prospects, Brem said that barring any unforeseen circumstances, it expects the next financial year overall performance to be favourable with better performance from the property development division and contributions from associated company.
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