Due to revenue recognition for its property development division, the revenue of Malaysia-based Quality Concrete Holdings in its fourth-quarter, which ended in January 2016, rose year-on-year by 42.1% from MYR 51.10 million (€11.35 million/US$12.67 million) to MYR 72.6 million.
In the reporting period, a total of MYR 35.4 million of its revenue was from sales of completed shop commercial properties in the existing quarter.
The manufacturing and construction division contributed to lesser revenues in the reporting quarter, accounting for MYR 3.7 million and MYR 1.8 million each.
The company registered a net profit of MYR 15.4 million in the reporting quarter, a swing from the net loss of MYR 6.8 million in the corresponding period of the preceding year.
The net profit registered was in line with the hike in revenue from the company's property development division.
For its full financial year period up to 31 January, 2015, the company posted a net profit of MYR 5.6 million versus a net loss of MYR 8.2 million posted in the preceding year. In the same year, the company's revenue hiked year-on-year by 6.6% from MYR 174.2 million to MYR 185.6 million.
