PETALING JAYA: Malton Bhd
remains cautiously optimistic of the outlook in the current financial year and will remain resilient and vigilant in addressing uncertainties in its business activities.
For the first quarter ended Sept 30, 2024, the property developer’s net profit surged by 73% year-on-year (y-o-y) to RM2.9mil or earnings per share of 0.56 sen.
This was due to lower operating expenses and lower finance costs incurred as a result of the full settlement of certain term loans and revolving credit facilities at the end of preceding year. This was despite a lower revenue posted in the quarter which saw a 10% decline y-o-y to RM117.5mil.
In a filing with Bursa Malaysia, the group said it saw lower revenue across its property development and trading as well as construction segments.
