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Wednesday, November 17, 2010

Paramount net rises

PARAMOUNT Corp Bhd, a property developer, said its net profit for the third quarter to September 30 was up 33 per cent due to higher profit margins and contribution from the new Surian Industrial Park development.

Revenue was RM98.3 million compared with RM111.6 million in the corresponding period last year due to lower progressive billings.

Given the buoyant property market and the lock-in unbilled sales brought forward, the company is confident of a better performance this year.

In addition, it expects to realise gains from its disposal of a 20 per cent stake in Jerneh Insurance Bhd.

By Business Times

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