Thursday, September 15, 2011

Sapura Resources posts RM7.14m net profit in 2Q

KUALA LUMPUR: SAPURA RESOURCES BHD [] net profit for the second quarter ended July 31, 2011 jumped to RM7.14 million from RM2.04 million a year earlier, due to better rental rates achieved from its property investment business.

It said on Thursday, Sept 15 that revenue for the quarter rose to RM5.12 million from RM4.20 million in 2010.

Earnings per share was 5.11 sen compared to 1.46 sen, while net assets per share was RM2.26.

Reviewing its performance, Sapura Resources said its net profit for the six months ended July 31 surged to RM137.73 million from RM3.88 million in 2010, due mainly to the gain from the disposal of 51% interest and the fair value gain on re-measurement of the 49% interest retained in its education business.

On its prospects, Sapura Resources said it would mainly be involved in the property and education businesses, and continue to develop the education business together with Ekuinas.

The company said barring unforeseen circumstances, it expects to record positive results for the financial year ending Jan 31, 2012.

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