GLOMAC registered Net Profit of RM7.2m for 4QE Apr 30, 2009 - a 66.5% increase from RM4.3m in the corresponding quarter of last year.
SALE OF GLOMAC TOWER - REASON FOR INCREASE
The jump in quarterly earnings was due mainly to recognition of revenue from the sale of 'Glomac Tower' and the fair value gain for 'Wisma Glomac 3'.
Revenue for the last financial quarter rose 38.7% to RM99.8m from RM72m a year earlier.
FULL FYE APR 2009 NET PROFIT DROPS 8%
However, for the 12-month period, Net Profit slipped 8.12% to RM32.2m from RM35.1m, due to the additional provision for Impairment Loss in a sub bond set off by the effect of the recognition of Fair Value Gain for Wisma Glomac 3.
Revenue was 8.4% higher at RM351.5m from RM324.3m previously.
FINAL DIVIDEND DECLARED
GLOMAC proposed a Final Dividend of 3.5 sen per share less tax, bringing total Gross Dividend for the year to six sen, versus five sen in FY08.
Based on the ongoing development projects and the level of work targeted to be completed, the Group's performance for the FYE Apr 30, 2010 would remain satisfactory, GLOMAC said in an EXCHANGE filing on Jun 24, 2009.
FBM KLCI - ended at intraday low, in sync with regional downtrend
-
Stocks on Bursa Malaysia ended lower yesterday with the benchmark FBMKLCI
closed at its intraday low, driven by a last-minute sell-off in utility
stocks...
22 hours ago
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