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Saturday, August 23, 2008

Plenitude Q4 profit jumps on strong property sales

PLENITUDE Bhd increased its net profit by 15 per cent to RM24.5 million in the fourth quarter compared with the same period last year, as it sold more properties.

For the current year ending June 2009, the group is fairly optimistic it will record satisfactory results as it aims to complete ongoing projects on time.

"Plenitude's good performances and growth over the years are testament to our dedication and commitment in providing high quality products and services to our customers," it said in a statement yesterday.

For the three months to June 30 2008, Plenitude's revenue jumped 43 per cent to RM129.6 million from RM90.8 million before.

Revenue was driven by impressive sales of properties in Taman Desa Tebrau in Johor, Taman Putra Prima in Selangor, Bandar Perdana and Lot 88 in Kedah, The Residences of Changkat Kiara and Changkat View Condominium in Sri Hartamas, Kuala Lumpur.

In the same period, earnings per share also increased to 18.21 sen from 15.84 sen.

For the 12-month period, the company achieved a net profit of RM78.71 million, a 39 per cent jump from 2007.

Revenue improved by 46 per cent to RM347.84 million.

"The response to our launches in the year under review have been very good and we will work hard to ensure that our future launches will receive equal, if not better, responses," said its executive chairman Chua Elsie.

CHUA: The response to our launches in the year under review have been good.

Apart from the profit contributed from property development projects, Plenitude's hotel in Penang , the Tanjung Bungah Beach Hotel, also contributed 0.3 per cent to the group's net profit.

By New Straits Times

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