KUALA LUMPUR: Malaysian Resources Corp Bhd’s (MRCB) net profit in the second quarter ended June 30 2014 soared to RM118.53 million from RM5.81 million a year ago.
At pre-tax level, the profit was higher at RM138.8 million from RM23.9 million previously. Group revenue for the quarter was RM325.7 million, up from RM204.6 million.
MRCB’s revenue and pre-tax profit for the first six months rose to RM530.3 million and RM162.7 million from RM447.8 million and RM18.2 million, respectively, in the same period last year.
The higher profit was largely contributed by the property development, engineering and construction divisions as well as gains from the disposal of Duta-Ulu Kelang Expressway, MRCB said yesterday.
The group said it has a strong platform to expand its property operations with the resolution of the dispute over PJ Sentral, the signing of a firm deal for Kwasa Damansara’s flagship township development in Sungai Buloh, Selangor, and completion of the acquisition of the balance 51 per cent stake in Penang Sentral Sdn Bhd.