IOI Q3 pre-tax jumps to RM780.9m

IOI Corp's pre-tax for the third quarter ended March 31, 2011 rose to RM780.964 million from RM709.268 million in the same quarter last year.

Its revenue increased to RM4.340 billion from RM3.147 billion previously.

In a filing to Bursa Malaysia today, IOI said the higher profit was mainly due to increase in overall operating profit of the group, as well as an increase in contributions from jointly-controlled entities.

For the nine months to March 31, 2011, its pre-tax profit rose to RM2.131 billion from RM1.932 billion in the same period of 2010.

IOI said this was due to higher profit contributions from the plantation and property segments.

Its revenue climbed to RM11.83 billion from RM9.48 billion previously. - Bernama