Selangor Prop Q4 profit grows to RM60m

Selangor Properties Bhd's pre-tax profit for the fourth quarter ended Oct 31, 2010 rose to RM59.843 million from RM45.017 million in the same quarter of 2009.

Revenue, however, fell to RM52.251 million from RM155.119 million previously.

For its fiscal year ended Oct 31, 2010, it recorded a higher pre-tax profit of RM71.787 million compared to RM61.558 million in 2009. Revenue fell to RM203.044 million from RM321.702 million previously.

In a filing to Bursa Malaysia today, the company said the increase in pre-tax profit was mainly due to contributions from property development, investment properties and education.

The group said prospect for the next financial year remained positive.

By Bernama