PETALING JAYA: Berjaya Corp Bhd’s (BCorp) saw its net profit surge 44.6% to RM22.88mil in the third quarter ended Jan 31, 2017 compared with RM15.82mil in the same period last year.

The group saw its revenue rising to RM2.22bil from RM2.16bil in the previous corresponding period. Its earnings per share for the quarter rose to 0.47 sen compared with 0.37 sen previously.

The group attributed the rise in revenue to the higher revenue posted by its property investment and development business segment as well as the marketing of consumer products and services segment as compared to the previous corresponding quarter.

The property investment and development business registered higher revenue mainly due to the sale of several units of residence in Japan.

In the first nine months, BCorp posted a net profit of RM136.7mil or 2.67 sen earnings per share on revenue of RM6.9bil.

“The higher revenue by the property investment and development business was mainly due to encouraging sales of apartments and higher progress billings from a property project in China in the period under review, as well as the sale of several units of residence in Japan,” BCorp said in a separate statement.

It said the marketing of consumer products and services segment contributed higher revenue as the motor distribution business reported higher revenue arising from higher sales of volume of new cars coupled with certain new models available for sale by HR Owen.

However, this was dampened by the lower revenue from the retail distribution business, which was affected by unfavourable economic conditions in the Greater China markets and the closure of non-performing stores.

In addition, BCorp said the hotel and resort business reported a higher revenue mainly due to revenue contribution from a new hotel which started its operations in October 2016.

Commenting on its prospects, BCorp expects the operating environment to be very challenging.

“Given the prevailing economic conditions and global financial outlook, the directors are of the view that the group’s operating environment for the remaining quarter of the financial year ending April 30, 2017 will be very challenging,” it said.

Follow us on Wechat or Facebook for the latest updates.

Download StarProperty.my e-Mag(bit.ly/StarProperty_Emag) for more articles.

Want to contribute articles to StarProperty.my? Email editor@starproperty.my.

[slider id='81590' name='StarProperty' size='full']