KUALA LUMPUR: Hua Yang Bhd posted net profit of RM4.31 million for the second quarter ended Sept 30, 2010 (2Q2010), up 57% from RM23.9 million a year ago on the back of better sales and construction progress for the current period.

Its revenue increased by 49% to RM35.63 million from RM23.9 million a year ago, it announced on Bursa Malaysia on Wednesday, Oct 20.

The group’s chief executive officer Ho Wen Yan said: “Sales of our products nationwide have been growing steadily. More buyers in the market are becoming aware of Hua Yang brand and that our products offer quality designs and finishing, are strategically located and are affordably priced. The rise in sales has led to our commendable 2nd quarter results.”

However, its profit before tax of RM5.62 million was 16% lower than the RM6.75 million posted in the previous quarter, due to timing differences in the construction progress.

Basic earnings per share rose to 4.77 sen from 3.5 sen.

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