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Tuesday, May 22, 2012

Bandar Raya quarterly revenue at RM155m

Bandar Raya Developments Bhd (BRDB) registered a pre-tax profit of RM17.492 million for the first quarter ended March 31, 2012, from the RM7.818 million posted in the corresponding quarter last year.

Revenue for the three-month period also grew to RM155.042 million from RM137.185 million previously.

In a filing to Bursa Malaysia today, the company said the higher revenue is mainly due to higher earnings from its property and manufacturing divisions.

The jump in pre-tax profit is fully contributed by the property division, and despite a loss of RM1.8 million from the manufacturing division under Mieco Chipboard Bhd (MIECO), the company said.

Moving forward, BRDB said under its property division, the company has planned several launches in Kuala Lumpur and Johor, which are at various stages of readiness to market subject to obtaining the necessary regulatory approvals.

Meanwhile for its manufacturing operations, BRDB said MIECO is experiencing a more challenging market for particleboards and related products in view of the external uncertainties as well as higher raw material costs, resulting in compressed margins.

"MIECO has expanded its downstream facilities to cater for more value-added and environmentally-sensitive products, which are rapidly becoming the global market preference, particularly in markets like Japan.

"The resilient property industry continues to support domestic demand for particleboards and its related products," it added.

By Bernama

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