Tasek Corporation Bhd posted a net profit of RM11.98m for the third quarter ended March 31, 2006, a turnaround from the net loss of RM9.95m a year ago, on the back of improvements in demand and pricing stability.
Revenue was 28.59% higher to RM72.57m from RM56.43m. Earnings per share rose to 6.48 sen up from a loss per share of 5.45 sen, the company said yesterday.
For the nine months up to March 31, Tasek Corporation’s net profit was RM27.36m against RM4.49m. Revenue during the period under review was RM212.31m from the RM176.66.
Tasek Corporation said the group is expected to maintain its profitability for the year despite the higher fuel cost. Future prospects was positive with the implementation of the Ninth Malaysia Plan, it added.