News: IGB Corp's net profit, revenue see jump
IGB Corporation Bhd recorded a net profit increase of 36.09 percent to RM237.65 million for the fiscal year ended 31 December 2011, from RM174.62 million in the previous year.
Revenue for the period also rose to RM772.13 million, from RM719.36 million in the preceding year.
In terms of quarterly results, net profit jumped to RM91.88 million in Q4, from RM53.1 million over the same period last year. This was mainly attributed to the inclusion of gains from the divestment of an associate company and the improved performance of its hotel division.
Likewise, Q4 revenue rose five percent to RM225.03 million from RM214.98 million, due to bigger contributions from construction, hotel and property investment divisions.
The company said despite the challenging global economic conditions, it still expects the domestic economy to grow, although at a moderate pace.
For the latest property news, trends, resources and expert opinions, visit our Property News section. Home buyers, sellers or property renters looking for Malaysian Properties, may like to visit http://www.homeguru.com.my today.
Related Stories:
