KUALA LUMPUR, June 27 — Property developer, Eco World Development Group Bhd, posted a lower net profit of RM41.17 million for the second quarter ended April 30, 2019 from RM43.13 million recorded in the same period a year ago.
Revenue also fell to RM543.18 million versus RM549.71 million, while basic earnings per share stood at 1.40 sen from 1.46 sen, the company said in a filing to Bursa Malaysia.
“We expect much better results for the second half of 2019. But, beyond the current financial year, the group expects to deliver Wardian London, West Village and Yarra One in financial year 2020 (FY2020).
“A sizeable portion of EcoWorld International’s effective stake in the future revenue of properties sold amounting to RM6.6 billion as at May 31, 2019, is therefore anticipated to be translated into revenue and share of profits from joint ventures in FY2019 and FY2020,” it added. — Bernama
