PETALING JAYA: Property developer Mah Sing Group Bhd’s net profit rose 47.9% for the quarter ended June 30 to RM43.13mil from RM29.16mil recorded in the same period last year.

The growth was driven by property development activities in Kuala Lumpur, Klang Valley, Johor Bharu and Penang island, the company said in a statement yesterday.

Revenue increased 44% to RM416.1mil from RM289.05 previously.

For the first half of its current financial year, Mah Sing recorded a net profit of RM84.3mil and revenue of RM727.9mil, which was 48% and 38% higher respectively compared with the same period last year.

SOURCE: The Star