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Friday, November 28, 2014

Perak Corp 3Q earnings up 300% to RM24m


KUALA LUMPUR: Perak Corporation Bhd’s earnings jumped 300% to RM24.20mil in the third quarter ended Sept 30, 2014 from RM7.87mil a year ago, boosted by land sales under its township development.

It said on Thursday its revenue rose 131% to RM81.15mil from RM35.04mil. Earnings per share were 24.2 sen compared with 7.87 sen.

Perak Corp said its township development revenue increased to RM57.96mil from RM13.10mil a year ago.

Management services and others recorded RM6.62mil in revenue from only RM1.79mil. There was also a contribution of RM2.66mil from the hotel operations.

Its infrastructure was slightly lower at RM20.17mil from RM21.42mil. The revenue was mainly from port operations at Lumut Maritime Terminal (LMT) and contractual revenue under the operation and maintenance of the Lekir Bulk Terminal besides revenue from the sale and rental of the LMT port related industrial land. The lower revenue was due to a 6% decline following lower cargo throughput of 6% and no land sales.

For the nine months, Perak Corp’s earnings rose to RM32.77mil from RM20.40mil in the previous corresponding period. Revenue rose to RM139.65mil from RM95.85mil.

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