Friday, February 25, 2011

Plenitude records net profit of RM 24.8 million

KUALA LUMPUR: Plenitude Bhd recorded a revenue of RM86.8 million and net profit RM24.8 million for its second quarter ended December 31, 2010 (2Q 2011), compared to a revenue and net profit of RM109.4 million and RM23.1 million posted a year ago. The improved financial performance was mainly due to progressive profit recognised on properties sold, completed and handed over of Taman Desa Tebrau in Johor, Taman Putra Prima in Selangor, Bayu Ferringhi in Penang and Bandar Perdana & Lot 88 in Kedah, it said on Wednesday, Feb 23 in a Bursa announcement.
According to Plenitude’s Executive Chairman Madam Chua Elsie, the strong demand and return of consumer confidence in the property market has benefited Plenitude, particularly its properties in Puchong, Johor and Penang which contributed substantially to this quarter’s performance. “During this reporting quarter, our development in Puchong namely Taman Putra Prima did exceptionally well. The high demand was for our recent launch, Phase 8B which consists of 248 units, out of which 186 units are double storey terrace houses and 62 units are 2 ½ storey terrace houses. Our initial launch of 96 units by way of balloting set a record sale for our subsidiary where all the units were sold out during that weekend. Subsequent openings resulted in equally good responses and currently we only have a limited number of intermediate lots of 2 ½ storey terrace house priced at RM 650,000 each. We are of course extremely pleased and driven by these developments,” added Madam Chua.

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