TA Enterprise 2Q net profit up 31%

28-09-2007: TA Enterprise 2Q net profit up 31%
By Gan Yen Kuan
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KUALA LUMPUR: TA Enterprise Bhd posted a net profit of RM56.59 million for the second quarter (2Q) ended July 31, 2007, a 31% increase from RM43.09 million a year ago, mainly due to increased brokerage income and higher revenue from the property development segment.

Announcing the results yesterday, the company said its 2Q revenue rose 29% to RM138.41 million from RM107.27 million previously. Earnings per share were 4.07 sen.

For the six months, its net profit surged 86% to RM114.4 million from RM61.43 million a year ago, on the back of a 60% rise in revenue to RM272.26 million from RM170.65 million.

It said the improved six-month earnings were mainly contributed by the group’s stockbroking operations, property development activities, short-term financing activities, property investment and hotel operations in Australia.

On the current year’s prospects, TA Enterprise said while investors were still generally concerned with the US subprime issue, it did not expect that to have significant impact on Asian economies.

“Based on Malaysia’s strong underlying fundamentals, our outlook for the local equity and property markets remains positive and we expect our performance for this financial year will be better than that of the previous year,” it said.



Source = http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_4b8c640b-cb73c03a-1ed1dbe0-4f67266c