IOI Properties Group Bhd”s pre-tax profit up at RM205.26 million in Q1

IOI Properties Group Bhd''s pre-tax profit up at RM205.26 million in Q1

KUALA LUMPUR, Nov 16 — IOI Properties Group Bhd’s pre-tax profit rose to RM205.26 million in the first quarter ended Sept 30, 2015, from RM147.13 million, posted in the same quarter last year.

Revenue jumped to RM595.26 million in the quarter under review from RM375.52 million previously.

For property development, revenue and the operating profit increased 59% and 41% to RM495.9 million and RM174.7 million, respectively, for the current quarter under review.

The better performance was mainly contributed from higher sales take up in Trilinq project, Singapore and maiden residential projects in IOI Palm City, Xiamen, PRC, coupled with a steady increase in progress works from on-going development projects.

Revenue for property investment soared 113% to RM60.8 million.