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Tuesday, August 20, 2013

Tambun Indah Q2 earnings up 47.3% to RM13.98m


KUALA LUMPUR: Tambun Indah Land Bhd's earnings rose 47.3% to RM13.98mil in the second quarter ended June 30, 2013 from RM9.49mil a year ago, boosted by higher construction work progress achieved in property development and construction segment, and lower sales and marketing expenses.

It said on Monday its revenue rose at a slower pace of 4.7% to RM82.60mil from RM78.84mil. Its profit before tax rose to RM26.29mil from RM17.88mil.

Earnings per share were 4.46 sen compared with 3.78 sen.

"The favourable increase in revenue was mainly derived from the property development segment and improved contribution from construction and project management segment. The favourable increase in the profit before tax in the current quarter was mainly due to increase in gross margin as a result of higher selling prices in property development projects," it explained.

In the first half ended June 30, 2013, its earnings increased by 37.8% to RM25.71mil from RM18.65mil. Revenue increased 11.1% to RM160.93mil from RM144.83mil.

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