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KUALA LUMPUR (Dec 28): Selangor Properties Bhd’s net profit in the fourth quarter ended Oct 31, 2017 (4QFY17) fell 64.4% to RM20.44 million from RM57.4 million a year ago, due to lower other operating income. Its other operating income declined nearly 82% to RM13.79 million in the quarter under review, from RM76.19 million a year ago. Earnings per share shrank to 5.95 sen per share, from 16.7 sen previously. Its quarterly revenue expanded 28.7% to RM45.23 million, from RM35.14 million in the previous corresponding quarter, mainly thanks to its property development division. Its investment holding and Australian operations also recorded higher revenue.
For the full financial year ended Oct 31, 2017 (FY17), it saw a net profit of RM92.6 million, up 37.5% from RM67.36 million in FY16 amid higher revenue and having incurred investment gains. Annual revenue grew 15.9% on year to RM140.17 million, from RM120.93 million a year ago, contributed by higher revenue from its property development division and operations in Australia.
This article first appeared in The Edge Financial Daily, on Dec 28, 2017.
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