Monday, August 22, 2011

Guocoland 4Q net profit increases 94.6% to RM22.34m

KUALA LUMPUR: Guocoland Bhd's fourth quarter earnings rose 94.6% to RM22.34 million from RM11.47 million, boosted by higher share of results from associates and improved profit from its property development division.

It said on Tuesday, Aug 22 the revenue increased by nearly 95% to RM58.48 million from RM30.02 million while earnings per share were 3.33 sen versus 1.71 sen. It proposed dividend payment of 2.0 sen a share.

For the financial year ended June 30, 2011, its net profit rose 42.9% to RM19.96 million from RM13.96 million while revenue declined 11% to RM142.77 million from RM160.52 million.

Guocoland said despite the lower revenue, the profits increased due to higher contributions from the share of results of jointly controlled entities and associates.

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