KUALA LUMPUR, Nov 29 — Mulpha International Bhd has returned to the black, recording a net profit of RM419.38 million in the third quarter (Q3) ended September 30, 2021 from a net loss of RM25.39 million in the corresponding quarter last year.
The company mainly attributed this to the one-off gain on disposal of an associate company in New Zealand, Education Perfect.
Revenue improved one per cent to RM141.19 million versus the RM139.77 million previously.
The increase was mainly from the hospitality division partly offset by lower revenues in the property and investments and other divisions.
It also recorded earnings per share of 132.09 sen from a loss per share of 7.94 sen.
Mulpha, which invests in the real estate, hospitality and education sectors, did not recommend any dividend for the current financial quarter.
Meanwhile, the group is anticipating stronger results with a full easing of restrictions in Australia’s southern states and borders reopening by year-end.
“Australia has performed well with vaccination rates with the nation anticipated to reach over 90 per cent double vaccination rates by year-end.
“Accordingly, we are looking forward to starting 2022 with stronger demand across the majority of our industry sectors,” the company said in Bursa filing today.
It also said that proceeds from the disposal would be used to reduce debt and invest in new business opportunities.
“At the Hotel School, there will be lower new international enrolments moving forward while international border restrictions remain in place.
“These restrictions are likely to materially reduce earnings in the short to medium term as international graduates are not replaced by new international enrolments,” Mulpha said. — Bernama
