Dutaland posts net loss RM3.69 million in 3Q on lack of development projects

Dutaland posts net loss RM3.69 million in 3Q on lack of development projects

-A +A

KUALA LUMPUR (May 24): Dutaland Bhd posted a net loss of RM3.69 million in its third quarter ended March 31, 2017 compared net profit RM1.21 million a year earlier, due mainly to lack of development activities.

In a filing to Bursa Malaysia yesterday, Dutaland said revenue for the quarter rose to RM10.75 million from RM6.42 million a year earlier.

For the nine months ended Mar 31, Dutaland posted net loss RM1.87 million compared to net profit RM1.39 million.

On its prospects. Dutaland said it expects to perform better in FY2017 than FY2016.

“This is mainly due to higher contributions from the plantation and property divisions.

“The contribution from the property division is mainly derived from the disposal of vacant land in Kuala Lumpur,” it said.