Glomac net profit up 50% in Q2

KUALA LUMPUR: Glomac Bhd net profit for the second quarter of its financial year ending April 30, 2012 rose 49.7% to RM23.8mil compared with RM15.88mil posted in the same period a a year ago.

For the first half of its financial year, Glomac achieved revenue of RM262.7mil and pre-tax profit of RM66.6mil.

This translates into an earnings per share of 7.1 sen, an increase from 5.4 sen in the previous corresponding 6-month period.

Group executive chairman Tan Sri F.D. Mansor said: “It was another good set of results. Contributions from ongoing projects such as Glomac Damansara and Glomac Cyberjaya, as well as launches in our townships Bandar Saujana Utama and Saujana Rawang, continued to drive group earnings.

“Glomac Tower was completed ahead of schedule and we formally handed over this new KLCC landmark building last month. We have also launched two projects, Glomac Cyberjaya 2 and B.U.Centro.”

By Bernama