The Group achieved a record-high profit during the financial year under review. Pre-tax profit jumped 174.3% to RM98.2 million from RM35.8 million reported previously while profit after tax soared 229.0% to RM72.7 million from RM22.1 million reported in 2010. The Group’s revenue registered an increase of 33.3% to RM462.4 million as compared to RM346.9 million reported previously with major contribution from the property development division. This division achieved higher revenue from the advanced construction progress of our on-going projects and higher sales achieved from new projects launched during the year. Revenue from construction and project management division also improved during the financial year due to the commencement of construction works at Jaya Shopping Centre.

The strong performance in the Group’s earnings was mainly driven by higher sales value and better margin achieved by our development projects. The value engineering exercise carried out across our development projects has also contributed to the improved margin. In the current financial year, the Group also recognized its full year share of results in Austin Heights Sdn Bhd, an associated company, amounting to RM4.1 million while the Group also shared losses in an associated company acquired in July 2010, Inai Berkat Sdn Bhd, for the amount of RM3.6 million arising mainly from the recognition of notional interest charges in its financial statements in compliance with Financial Reporting Standard 139.