KUALA LUMPUR (Jan 18): COUNTRY VIEW BHD [] swung into the black for the financial year ended Nov 30, 2011, posting net profit of RM7.43 million compared with net loss of RM8.19 million in FY10, boosted by higher sales from its residential PROPERTIES [] and shop-offices.
It said on Wednesday revenue surged 314% to RM96.29 million from RM23.26 million. At the profit before tax level, it was RM11.50 million compared loss before tax of RM8.5 million.
“The significant increase in the revenue and profit before tax was derived from the percentage of completion recognised and the increase in sales for the residential properties and triple storey shop-offices in Taman Nusa Sentral as well as the bungalow units, Residence at The Peak,” it said.
In the fourth quarter ended Nov 30, 2011, it posted net profit of RM4.72 million compared with net loss of RM1.72 million a year ago.
Revenue jumped 721% to RM41.40 million from RM5.04 million a year ago while earnings per share were 4.72 sen compared with loss per share of 1.72 sen.
Country View said the profit before tax of RM6.3 million in the fourth quarter as compared to the profit before tax of RM3.0 million in the third quarter was derived from the percentage of completion recognised and the increase in sales for the residential properties and triple storey shop-offices as well as the bungalow units.
It said on Wednesday revenue surged 314% to RM96.29 million from RM23.26 million. At the profit before tax level, it was RM11.50 million compared loss before tax of RM8.5 million.
“The significant increase in the revenue and profit before tax was derived from the percentage of completion recognised and the increase in sales for the residential properties and triple storey shop-offices in Taman Nusa Sentral as well as the bungalow units, Residence at The Peak,” it said.
In the fourth quarter ended Nov 30, 2011, it posted net profit of RM4.72 million compared with net loss of RM1.72 million a year ago.
Revenue jumped 721% to RM41.40 million from RM5.04 million a year ago while earnings per share were 4.72 sen compared with loss per share of 1.72 sen.
Country View said the profit before tax of RM6.3 million in the fourth quarter as compared to the profit before tax of RM3.0 million in the third quarter was derived from the percentage of completion recognised and the increase in sales for the residential properties and triple storey shop-offices as well as the bungalow units.
