Business

Published: Thursday August 27, 2009 MYT 4:23:00 PM

Tradewinds Corp net profit up on exceptional gain


KUALA LUMPUR: Tradewinds Corp Bhd posted a net profit of RM9.19mil for Q209 from RM168.12mil a year ago on exceptional gain of RM149.56mil from the disposal of discounted operations.

Revenue was lower at RM115.87mil compared with RM124.51mil while earnings per share were 0.83 sen compared with 15.2 sen.

“The unfavourable result was mainly due to the decline in revenue from the hotel division,” the company said.

Tradewinds Corp expects the performance of its hotel division to remain uncertain due to the continuing global economic downturn which affects spending in both leisure and business sectors.

It said the concept and design plans for its property development division were on-going although timing for execution continued to be uncertain in light of prevailing market conditions. Hence, no contribution from property development activities is expected for the remainder of this financial year.

  • E-mail this story
  • Print this story