KUALA LUMPUR, Feb 10 ― Paramount Corp Bhd's pre-tax profit for financial year ended Dec 31, 2016 rose to RM112.48 million from RM101.69 million in the 2015 financial year.

Revenue, however, was lower at RM573.14 million from RM576.03 million.

In a filing to Bursa Malaysia today, it said, the property division recorded marginally lower revenue but this was offset by higher contributions from the education division.

Paramount said the property segment's revenue was lower due to poor sales while its education segment improved due to higher new student enrolments.

For the fourth quarter, its pre-tax profit rose to RM37.8 million from RM22.74 million in the same period in 2015 while revenue rose to RM179.73 million from RM148.06 million previously.

On outlook, Paramount said, it expected the market to remain cautious as weak consumer sentiment would likely continue into 2017. ― Bernama