Mah Sing”s Q1 Profit Drops 4.9% On Higher Expenses

Mah Sing''s Q1 Profit Drops 4.9% On Higher Expenses

PETALING JAYA, May 31: Mah Sing Group Bhd’s net profit decreased 4.9% to RM90.42 million in the first quarter (Q1) ended March 31, 2017, from RM95.04 million in the previous corresponding quarter, mainly due to higher expenses.

Revenue slightly up by 2.03% to RM723.54 million, from RM709.17 million in the same period last year.

The property developer said in a statement that it achieved property sales of RM410.3 million for the first three months, by offering products in line with market demand, namely beginner homes for the mass market and upgrader homes in selected locations.

Approximately 70% of the sales achieved were from projects in the Greater KL, it noted. – The Sun