TA Enterprise returns to the black in 2Q

TA ENTERPRISE Bhd returned to profitability for the second-quarter (2Q) ended June 30, 2017, with a net profit of RM70.89 million compared to a net loss of RM17 million recorded in the same period in
the preceding year.

In a filing to Bursa last Friday, the company attributed the positive growth to better contribution from its stock broking, investment holding, property development and hotel operation divisions.

Revenue surged 84% to RM312 million for the quarter from RM169 million made in the same period a year ago.

Moving forward, TA Enterprise noted it will continue to explore and evaluate opportunities to acquire new hotels or properties.

Its basic earnings per share for the period under review was 4.14 sen. The firm’s share price closed at 65 sen last Friday, giving it a market capitalisation of RM1.1 billion.