KUALA LUMPUR: I-Bhd’s pre-tax profit for the first quarter ended March 31, 2015 surged 63 per cent to RM13.63 million from RM8.36 million in the same period of 2014.
Revenue jumped 67.8 per cent to RM75.35 million from the RM44.91 million recorded in the corresponding period of 2014, it said in a statement today.
The property development segment recorded a significant increase, driven by higher percentage of recognition from both completed projects as well as sales of on-going projects.
The leisure segment also recorded an increase in revenue in view of positive contribution from the new attractions at Leisure Park @i-City, as well as the three-star Best Western i-City that commenced operations on Jan 2 this year.
I-Bhd’s Deputy Chairman Datuk Eu Hong Chew expects both the property development and leisure segment to continue with the positive contribution to the Group’s performance.
“The results are in line with the Group’s growth plan to achieve revenue of RM500 million per year come 2018. By then, we would also expect the leisure segment revenue to be double that of 2014, while having completed our RM1 billion investment property programme,” he said.
– Bernama