TA Enterprise 2Q soars 382% yoy to RM32m

TA Enterprise Bhd posted a net profit of RM31.9 million for the second quarter to end-July 2013, up 382% year-on-year.

But its quarterly revenue rose marginally to RM188.5 million, from RM176.9 million a year ago.

For the six months to July 2013, accumulated profits totalled RM65.8 million, compared to RM27.1 million in the first half of the previous year. Revenue was up at RM369.4 million, compared to RM353.2 million.

“The increase in revenue was mainly attributable to higher contribution from the broking segment, hotel operations and property development segment,” said TA Enterprise in its filing with Bursa.

Despite higher foreign exchange translation loss, it enjoyed higher profit before tax due to the absence of impairment loss on financial receivables, and higher contribution from its investment portfolio, said the company.