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Thursday, February 10, 2011

MRCB Q4 profit rises on better margin

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) registered a net profit of RM41.5mil for the fourth quarter (Q4) ended Dec 31, 2010, more than tripling its RM12.4mil net profit posted in the same period last year.

It told Bursa Malaysia that the higher profit was due to improved margin coupled with advanced stage of activities of its engineering and construction works and property development projects at Kuala Lumpur Sentral.

“Higher operational margin was achieved on the back of crystallisation of its ongoing value engineering and efficient project supervision and cost-saving initiatives,” it said.

Its revenue for Q4 stood at RM433.1mil, 53.8% higher than RM281.7mil previously.

MRCB has recommended 1.5% or 1.5 sen per share first and final dividend for the financial year ended Dec 31, 2010 (FY10) less 25% income tax, amounting to about RM15.6mil.

For FY10, MRCB posted a net profit of RM67.3mil, a 94.3% more than RM34.6mil in the FY09. Its revenue rose from RM921.6mil to RM1.07bil.

By The Star

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