KUALA LUMPUR: Mutiara Goodyear Development Bhd posted lower net profit of RM3.33 million in its second quarter ended Oct 31, 2009 (2QFY2010), from RM5.5 million a year earlier, despite higher revenue.

Its revenue increased 5.5% to RM30.46 million, from RM28.87 million the previous year, due to the sale of development land to a 30% associated company and from progressive stages of completion for projects under development coupled with new sales for the quarter.

Its basic earnings per share dropped to 1.44 sen, from 2.37 sen. No dividend was declared.
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