MB World Q2 earnings up threefold to RM22m
PETALING JAYA: MB World Bhd’s net profit for the second quarter ended June 30 rose over three folds to RM22.08 million from RM6.24 million a year ago mainly due to higher revenue in property development division.
Its revenue more than doubled to RM91.27 million compared with RM38.42 million in the previous year’s corresponding quarter mainly from the property development division.
For the six months period, its net profit more than doubled to RM32.84 million from RM13.05 million a year ago; while revenue also more than doubled to RM165.53 million compared with RM67.78 million.
The group launched new phases of its Taman Sri Penawar project in Desaru comprised of 166 units of single storey terrace house and 228 units of double storey terrace house.
It also launched its maiden project in Malacca called Novo 8 Residence, which has received positive response from the public due to its strategic location and versatility of layout space designs.
The group expects its performance for the remaining quarters of the financial year to be satisfactory driven by the contributions from the projects.
http://www.thesundaily.my/news/2018/08/20/mb-world-q2-earnings-threefold-rm22m