KUALA LUMPUR (Feb 27): Eastern & Oriental Bhd posted a strong set of results for the third quarter ended Dec 31, 2011 with earnings up 385% to RM15.36 million from RM3.16 million a year ago boosted by stronger property’s sales.
It said on Monday its revenue jumped 221% to RM123.12 million from RM41.08 million. Earnings per share were 1.4 sen compared with 0.3 sen.
E&O said the revenue of RM123.12 million and a profit before tax of RM27.67 million for the quarter ended Dec 31, 2011 was higher when compared with the immediate preceding quarter ended Sept 30, where group revenue was RM82.60 million and profit before tax of RM18.202 million.
The group attributed the higher revenue and profits to its PROPERTIES [] segment, which had a higher percentage recognition from current locked-in sales and the steady development progress of its projects.
Sales from its newly launched Seri Tanjung Pinang also contributed to the increased performance.
For the nine-months ended Dec 31, 2011, the net profit jumped 338% to RM81.09 million from RM18.47 million while the revenue increased by 83.8% to RM281.60 million from RM153.21 million.
“The increase in revenue was mainly from properties segment which registered an increase of RM118.38 million.The hospitality and restaurants segment also shown an increase of RM10.058 million, whereas the investment holding and others segment shown a slight decrease,” it said.
It said on Monday its revenue jumped 221% to RM123.12 million from RM41.08 million. Earnings per share were 1.4 sen compared with 0.3 sen.
E&O said the revenue of RM123.12 million and a profit before tax of RM27.67 million for the quarter ended Dec 31, 2011 was higher when compared with the immediate preceding quarter ended Sept 30, where group revenue was RM82.60 million and profit before tax of RM18.202 million.
The group attributed the higher revenue and profits to its PROPERTIES [] segment, which had a higher percentage recognition from current locked-in sales and the steady development progress of its projects.
Sales from its newly launched Seri Tanjung Pinang also contributed to the increased performance.
For the nine-months ended Dec 31, 2011, the net profit jumped 338% to RM81.09 million from RM18.47 million while the revenue increased by 83.8% to RM281.60 million from RM153.21 million.
“The increase in revenue was mainly from properties segment which registered an increase of RM118.38 million.The hospitality and restaurants segment also shown an increase of RM10.058 million, whereas the investment holding and others segment shown a slight decrease,” it said.
