SPB Q3 net profit plunges 77%

KUALA LUMPUR: Selangor Properties Bhd’s (SPB) net profit plunged 77% to RM7.5mil for the third quarter ended July 31 against RM33.3mil a year ago when it posted higher unrealised foreign exchange gain and better profit from property development.

The main contributors to net profit for the quarter under review were property development, investment properties and education, it said.

Revenue was almost 40% down to RM42.5mil from RM70.6mil while earnings per share tumbled to 2.19 sen against 9.69 sen previously.

By The Star