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(From Business Times (Malaysia))
PROPERTY developer Glomac Bhd saw its fourth-quarter 2005 net profit jump 68.6 per cent to RM16.8 million, buoyed by contribution from its Glomac Square project in Kelana Jaya and the high-end condominium Suria Stonor in Kuala Lumpur.
It reported a net profit of RM10 million in the same period last year.
However, its net profit for the full year to April 30 2006 slipped by 4.84 per cent to RM38.12 million from RM40.06 million a year ago due to higher tax expenses. Revenue rose by 9 per cent to RM285.5 million.
In a statement issued yesterday, Glomac group executive chairman Datuk F. D. Mansor said despite …