Malaysia Tasek Corp profit rises

Malaysia Tasek Corp profit rises
Published: 22 February 2011

Tasek Corp Bhd’s pre-tax profit for the fourth quarter ended 31 December 2010 rose to MYR72.765m (23.89m) compared with MYR20.943m (US$6.9m) in the same quarter of 2009.

Revenue increased to MYR133.674m from RM116.084m previously.

 For the 12-month period, its pre-tax profit rose to MYR156.272m from MYR87.160m in 2009.

Revenue increased to MYR546.762m from RM520.785m previously.

In a filing to Bursa Malaysia on Friday, Tasek said the better results were mainly in line with the increase in group’s total revenue compounded by better local cement sales margin.

The cement company expects to remain profitable for the first quarter this year and plans to continue to intensify its efforts to optimise production efficiency.