Mah Sing’s net profit jumps to RM40.28m in 1QFY21

Mah Sing’s founder and group managing director Tan Sri Leong Hoy Kum said, “With our quick turnaround and nimble business model, we are able to quickly adapt to the changing market conditions, whilst aligning our business strategies with the latest trends in the market.

KUALA LUMPUR: Mah Sing Group Bhd’s net profit jumped by 40.3% to RM40.28mil in the first quarter ended March 31,2021 from RM28.71mil a year ago underpinned by strong revenue growth due to strong demand for its affordable property units in strategic locations.

It announced on Monday its profit before tax surged by 35.1% to RM56.16mil on the back of its revenue of RM413.31mil in 1Q compared with profit before tax of RM41.61mil and revenue of RM371.11mil a year ago. Its earnings per share were 1.66 sen compared with 0.42 sen.