KUALA LUMPUR: Crest Builder Holdings Bhd (CBHB)'s net profit for the second quarter ended June 30, 2010, dipped 24% to RM3.2 million from RM4.2 million a year ago, despite recording higher revenue of RM100.7 million, a 37% increase compared with RM73.7 million recorded a year ago.

In its filing to Bursa Malaysia on Thursday, Aug 19, the increase in revenue was mainly due to the higher contribution from construction activities undertaken in 2Q2010.

“The decrease in PBT (profit before tax) was mainly due to price escalation in certain building material for construction projects during the current quarter under review,” it said.

CBHB will continue to bid actively for construction projects, while continuous effort is being taken to identify measures for improving the group’s construction margin.

The group is also planning for new launches on its existing land bank while looking for strategic land bank.

CBHB is cautiously optimistic that the operating results for 2010 will remain satisfactory.
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