Bina Darulaman Q2 earnings up 57% to US$1.835m

Malaysia 15 Aug 2014
Bina Darulaman Q2 earnings up 57% to US$1.835m

Bina Darulaman Bhd’s earnings jumped 57% to RM5.84mil in the second quarter ended June 30, 2014 from RM3.71mil a year ago due to higher contributions from its property and construction units.

It said on Friday its revenue increased 18.3% to RM60.02mil from RM50.72mil a year ago. Earnings per share were 8.02 sen compared with 5.10 sen.

Dina Darulaman said the property division’s contribution to the group increased to RM26.40mil from RM19.40mil due to higher billings from property projects in Bandar Darulaman, Jitra and Darulaman Utama, Kuala Ketil.

The construction division recorded higher revenue of RM16.80mil compared to RM8.60mil a year ago due to higher progress of the on-going housing and infrastructure projects.

 Its road and quarry division contributed RM14.90mil to group revenue, down 29% from the RM20.90mil a year ago as demand for quarry products fell. However, the profit increased more than 100% to RM3.7mil due to better margins from the on-going pavement projects.
In the first six months ended June 30, 2014 its earnings rose 3.1% to RM11.02mil from RM10.68mil in the previous corresponding period. Revenue was marginally higher at RM127.63mil from RM126.87mil.
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