Property development division lifts Guocoland Q1 net profit

Posted on | October 15, 2009

By THE STAR

PETALING JAYA: GuocoLand (M) Bhd’s net profit for the first quarter ended Sept 30 almost doubled to RM6.67mil from RM3.4mil in the previous corresponding quarter, as revenue jumped 133% to RM42.75mil.
The better results were attributed to higher contribution from the “property development division compared with the previous year,” it said in a statement to Bursa Malaysia yesterday.
The company sees a “challenging” year ahead, but expects its performance this year “to be satisfactory.” GuocoLand is a company under the Hong Leong group.

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