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KUALA LUMPUR: Metro Kajang Holdings Bhd has posted a net profit of RM3.9 million for the third quarter (3Q) ended June 30, 2010, down 72.9% from RM14.43 million a year ago on the back of lower profit contribution from the property and construction division after the completion of certain ongoing projects.
Its revenue fell 39.9% to RM59.51 million from RM99.06 million a year ago, the company said on Monday, August 30.
It said that as at June 30, the group had locked in unbilled sales of RM70.8 million, from which attributed sales revenue and profits will be recognised progressively according to percentage of completion.
“The group’s newly launched residential development in mid-January 2010 known as Hill Park Home has achieved locked-in new sales of RM79.0 million as at mid-August 2010,” it said.
Meanwhile, its development in Kajang known as Sentosa Heights has achieved a 30% take-up rate. It has a gross development value of RM83 million. Its upcoming new township in Semenyih is expected to be launched by the end of September.
Earnings per share stood at 1.62 sen, from 6 sen a year ago.
