DNP ... Feb10

DNP HOLDINGS recorded Net Profit of RM10.5m for 2QE Dec 2009, up 320% from RM2.5m same quarter a year ago due to its Property Development and Trading Divisions.

In an EXCHANGE filing Jan 27, 2010, the Company said that Revenue rose 58% to RM87.2m from RM55.2m while EPS was 3.38 sen versus 0.81 sen same quarter a year ago.

1HE DEC 2009 NET PROFIT DOUBLES
For 1HE Dec 2009, Net Profit doubled to RM20.3m from RM10.5m while Revenue rose 17% to RM151.9m compared with RM129.4m same period a year ago.

OUTLOOK
" .... With improving domestic economic conditions, the Group expects an improvement in the property development and apparel and lifestyle divisions ...." it said.

CASH & BANK BALANCES/BORROWINGS
The Company had Cash & Bank Balances of RM93.8m as at Dec 31, 2009 compared with June 30, 2009 balances of RM30.3m.

Borrowings increased to RM63.9m as at Dec 31, 2009 from RM48.7m as at Jun 30, 2009 while Trade and Other Payables were at RM133.6m compared with RM84.9m.