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KUALA LUMPUR: LBI Capital Bhd's net profit declined by 26% to RM1.32 million for its third quarter (3Q) ended Sept 30, 2010 from RM1.8 million a year ago underpinned by lower revenue, the group announced to Bursa Malaysia on Monday, Nov 22.
Its revenue dropped 15.2% to RM10.53 million from RM12.42 million, due to the completion of its major project and the slow start of new projects.
However, year-to-date its net profit almost tripled to RM13.1 million from RM4.06 million, despite revenue falling by 35.5% to RM30.43 million from RM47.18 million, due to disposal of land held for sale.
The group expects the current financial year to be challenging due to a delay in launching new projects.
Its revenue dropped 15.2% to RM10.53 million from RM12.42 million, due to the completion of its major project and the slow start of new projects.
However, year-to-date its net profit almost tripled to RM13.1 million from RM4.06 million, despite revenue falling by 35.5% to RM30.43 million from RM47.18 million, due to disposal of land held for sale.
The group expects the current financial year to be challenging due to a delay in launching new projects.
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