KUALA LUMPUR: Mitrajaya Holdings Bhd’s earnings jumped 70% year-on-year to RM23.09mil in the second quarter (Q2) ended June 30, 2015, as the construction division more than doubled its contribution.
The company, whose revenue rose 80.5% to RM243.2mil for the quarter, told Bursa Malaysia that pre-tax profit from construction activities grew to RM24.84mil from RM11.33mil a year earlier thanks to the higher recognition from new projects netted since last year.
Its property development project in South Africa, Blue Valley Golf & Country Estate, also chalked up a much higher pre-tax profit of RM4.02mil against RM71,000 in last year’s corresponding period.
However, the domestic property development operation’s pre-tax profit fell 71.6% to RM778,000.
On the drop in profit, Mitrajaya attributed it to lower recognition from the existing on-going project (Wangsa 9 Residency) as it was currently at the initial construction stage.
Meanwhile, the group’s healthcare operation under Optimax Eye Specialist Centre stagnated at RM263,000 (its results were partly propped up by a RM650,000 gain from an office building disposal).
Mitrajaya shares gained 5 sen to close at RM1.76 on Tuesday.
