MRCB: Which Financial News Version Would You Want?

The plain version:



The Business Times version: MRCB Q1 net profit falls by almost 99pc

• CONGLOMERATE Malaysian Resources Corp Bhd’s (MRCB) net profit in the first quarter ended March 2009 fell by almost 99 per cent to RM153,000 compared to RM14.7 million in the comparable quarter a year ago.
  
  The company did not say why net profit dropped in the current quarter, but higher profit in the preceding quarter was mainly due to one-off profit on a land sale at KL Sentral development and the group’s divestment in some of its investments.
  
  The company also turned in a lower revenue of RM152.5 million compared to RM177 million before.

The Edge Malaysia version MRCB swings back into black in 1Q

• MRCB swings back into black in 1Q
  Written by Surin Murugiah
  Friday, 15 May 2009 19:01
  
  KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) swung back into the black in the first quarter ended March 31, 2009 with net profit RM153,000 compared to its net loss of RM39.3 million in 4Q2008.
  
  Year-on-year, however, the RM153,000 net profit was significantly lower than the RM14.71 million net profit it posted a year ago. Revenue fell to RM152.6 million from RM177.1 million a year ago.
  
  MRCB said on May 15, the higher profit last year was mainly due to a one-off profit on land sale at the KL Sentral development and the group's divestment in some of its investments.
  
  The company said it recorded higher revenue in all its business segments except for property development, which enjoyed relatively higher revenue recognition in the 2008 arising from the land sale in KL Sentral development.
  
  On its outlook, MRCB said that in spite of the various uncertainties and challenges in the global and local economic environment, its business plans remain intact.
  
  "The easing of construction material prices has provided much relief to the group as it is moving into full swing to implement the ongoing construction projects and property development of more than 4 million square feet of commercial space in Kuala Lumpur Sentral."
  
  "The group will remain vigilant on costs control and to find ways for innovative value engineering in its attempt to achieve overall lower project and administration costs," it said.
  
  “MRCB said concurrently, investment in human resource development was on course with its long term goal of pursuing operational excellence and performance.
  
  "Barring any unforeseen circumstances, the board is confident the group will be able to navigate through the difficult and challenging times to show growth in revenue and return to profitability in 2009," it said.

How now my dearest Brown Cow?

Nice?

:p2