Details
February 09, 2018
Nikkei Asian Review : Malaysia's Amcorp Properties 3Q Net Profit Soars On JV Results
 
Malaysia's Amcorp Properties 3Q Net Profit Soars On JV Results
February 9, 2018 7:56 pm JST
By Jason NG 
Nikkei Markets

KUALA LUMPUR (Feb 09) -- Amcorp Properties, a Malaysian property and engineering firm, said Friday its net profit jumped nearly 19 times in the fiscal third quarter, thanks to a surge in share of results from its London joint ventures.

Net profit for the three months ended Dec. 31 was 75.21 million ringgit ($19.01 million) compared with 4.01 million ringgit over the same period last year, Amcorp said in an exchange filing. Quarterly revenue, however, fell 19% year-on-year to 36.11 million ringgit from 44.52 million ringgit.

Amcorp blamed lower sales achieved for Kayangan Heights project, but said the company is still expected to record higher profit for the year ending Mar. 31, 2018 compared to the preceding financial year. 
 
Online Enquiry