Thursday, July 14, 2011

Atlan 1Q net profit RM92.2m, boost from land sales

KUALA LUMPUR: Atlan Bhd posted net profit of RM92.35 million in the first quarter ended May 31, 2011 from RM24.21 million a year ago, boosted by sale of several pieces of land.

It said on Thursday, July 14 revenue was marginally higher at RM177.29 million from RM175.96 million a year ago while earnings per share were 36.60 sen compared with 10.05 sen.

The earnings were boosted the sale of six pieces of land measuring 43.95 acres in Penang by its unit Blossom Time Sdn Bhd for'' RM104.42 million and a piece of land measuring 17.08 acres in Penang also for RM40.58 million.

As at May 31, its long term secured borrowings were RM210 million.

In terms of segment revenue it was RM253.15 million of which its duty-free business accounted for RM193.03 million, manufacturing (RM30.45 million), hotel and property (RM25.77 million), investments (RM1.82 million), and others (RM2.08 million).

However, after eliminations totaling RM75.86 million, the revenue was reduced to RM177.29 million.

No comments:

Post a Comment