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Friday, February 24, 2012

YTL Land Q2 net profit jumps 195%

PETALING JAYA: YTL Land and Development Bhd posted a 195% year-on-year jump in net profit to RM6.4mil for its second quarter ended Dec 31, 2011, compared with RM2.2mil a year earlier.

The property developer's revenue saw a huge 712% spike to RM222.5mil for the quarter under review, compared with RM27.4milpreviously, due to contributions by The Capers condominium under the Sentul Raya project as well as other developments undertaken by recently-acquired offshore subsidiaries Lakefront Pte Ltd and Sandy Island Pte Ltd.

For the six months ended Dec 31, 2011, YTL Land recorded a 73% year-on-year jump in net profit to RM9.3mil while revenue increased 445% to RM225.9mil.

By The Star

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