Thursday, February 4, 2010

Dutaland turns around to post 2Q profit

KUALA LUMPUR: DUTALAND BHD [] managed to turn around to register a net profit of RM598,000 for the second quarter ended Dec 31, 2009 (2QFY10) versus a net loss of RM12.77 million a year earlier, thanks to a higher profit contributed by the property division and PLANTATION [] division of RM3.8 million and RM2.8 million, respectively.

Dutaland said today the stronger profit was also due to higher forex gain of RM1.7 million and lower impairment loss on investments of RM1.8 million.

It posted a net loss of RM4.80 million on a revenue of RM12.48 million in 1QFY10.

2QFY10 revenue rose 7% to RM18.24 million from RM17.05 million a year earlier, while basic earnings per share (EPS) stood at 0.1 sen versus basic loss per share of 2.26 sen previously.

For the six months ended Dec 31, 2009, the company posted a net loss of RM4.20 million versus a net loss of RM16.60 million a year earlier.

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