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Tuesday, March 24, 2009

Selangor Properties Q1 profit drops 96pc

SELANGOR Properties Bhd said its first quarter net profit plunged by 96 per cent due to a foreign exchange loss, the fall in value of investments and the lack of an exceptional gain.

It made a profit of RM23.6 million for the first quarter to January 31 2008 from the sale of Wisma Damansara.

Its net profit for the quarter to January 31 2009 fell to RM1.75 million from RM43.16 million previously.

Revenue for the period under review was RM41.73 million compared with RM40.99 million in the previous corresponding period.

By Business Times

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