Hunza suffers fall in Q4 pre-tax profit

Property News/ 25 August 2011 Leave a comment

Hunza Properties Bhd's pre-tax profit for the fourth quarter ended June 30, 2011 fell to RM10.94 million from RM20.26 million in the same period last year.

Its revenue declined to RM46.79 million from RM73.39 million previously, driven by lower sales and sales mix of the group, it said in a filing to Bursa Malaysia today.

%9Hunza said the decrease was also due to the write-off of RM4.8 million from civil suit between Hunza Parade Development Sdn Bhd and The Kwangtung and Tengchow Association Penang.%9 %9Hunza said it was confident of continuing to record a decent performance in the current year. — Bernama

SOURCE: Business Times

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