I-Bhd’s 3Q net profit improves on higher property sales

by TMR

I-Bhd’s net profit rose 24% year-on-year (YoY) to RM28.3 million, or earnings per share of 1.66 sen, in its third quarter (3Q) ended Dec 31, 2017, driven by improved sales from its existing and recent launched projects in I-City.

In a filing to Bursa Malaysia, the property developer noted a 25.5% YoY increase in revenue to RM129.1 million in 3Q.

The company said the maintenance costs for the investment properties had increased as a result of the completion of construction.