Mah Sing Shows Good Profits
Mah Sing has been in the news quite a bit. In a report in the Edge,
Mah Sing Group Bhd’s net profit doubled to RM14.07 million in the third quarter ended Sept 30, 2005 from RM6.95 million a year earlier due to maiden profit contribution from its project in Klang Valley and higher property sales in Johor.
The company said on Nov 14 that the surge in net profit was due to maiden profit contribution from Aman Perdana project in Klang Valley. The higher earnings were also due to better property sales and margins from Damansara Legenda project in Petaling Jaya, Sri Pulai Perdana and Austin Perdana projects in Johor.
The financial results look impressive for this company that had only recently migrated to the First Board from the Second.
Revenue rose 22.6% to RM134.42 million from RM109.66 million. Earnings per share was 9.69 sen from 5.56 sen.
For the nine months, net profit increased 87% to RM34.13 million from RM18.26 million. Revenue rose 40% to RM352.02 million from RM251.50 million.
Mah Sing has been aggressively promoting two of their latest up-market products in the media recently, Aman Perdana in Bukit Raja Klang and Damansara Legenda in Petaling Jaya.
For the rest of the report, you can read it here.
