Naim Registers RM70 Million Pre-Tax Profit.
KUCHING: Property and construction group, Naim Cendera Holdings Berhad has chalked up pre-tax profit of RM70 million for the nine months ended Sept 30, 2006.
This is against RM76 million echieved in the same period last year.
The pre-tax RM70 million is commendable considering it was achieved in a period of rising costs, increase in the interest rates and in a competitive environment.
Naim recorded revenue of RM329 million in the nine months under review as against RM243 million recorded in the corresponding period in 2005, an increase of 35 per cent.
Compared with the preceding quarter results, the revenue for the current quarter was RM115 million, the same as that recorded in the immediate preceding quarter.
However profit before tax was higher at RM26 million than the RM15 million achieved I the previous quarter.
The increase in revenue was contributed by the construction division, which improved from 26 per cent of total revenue in the first nine months of the current period.
For the property division, Naim’s mainstay development at Bandar Baru Permyjaya in Miri, The Riveria and Desa Ilmu in Kuching are also performing according to expectations.
Naim is confident of another credible performance in 2006 as it is expecting a better contribution from the construction division this year as compared with 2005.
The property division is expected to continue to contribute strongly to profits besed on sales achieved to date. Barring any forseen circumstances, the groups is confident of achieving a favourable result in 2006. In the meantime, the Group is actively seeking to increase its construction order book.
It is also continuously sourcing for new land banks to ensure sustainable growth future earnings.