Published: Tuesday April 30, 2013 MYT 12:54:00 PM
I-Bhd expects RM65m pre-tax profit for FY13
By Choong En Han
KUALA LUMPUR: I-Bhd expects to record RM65mil in pre-tax profit for this financial year ending Dec 31, 2013, underpinned by growth from its property development business.
"Our forecast results have been audited by BDO and revenue will be recognised from the increased progressive billings from our various development projects," said its chief executive officer Datuk Eu Hong Chiew.
In 2012, I-Bhd's pre-tax profit surged to RM18.23mil from only RM1.81mil in 2011.
The strong FY12 performance was due to a turnaround in the property development division which recorded pre-tax profit of RM6.3mil from a loss before tax of RM4mil in 2011.