KUALA LUMPUR (Sept 7): Net profit of NCT Alliance Bhd (formerly known as Grand-Flo Bhd) for the second quarter ended June 30, 2021 (2QFY21) surged to RM9.48 million, from a net loss of RM417.000 a year earlier, on the back of a higher revenue of RM49.2 million versus RM18.88 million previously.

Earnings per share (EPS) rose to 1.78 sen from loss per share of 0.14 sen.

In a bourse filing today, NCT Alliance said its net profit for the cumulative six months jumped to RM9.56 million from a net loss of RM371,000 earlier, on the back of a total revenue of RM64.71 million versus RM42.31 million.

In a separate statement, NCT Alliance executive chairman and group managing director Datuk Seri Yap Ngan Choy said the the company's momentum was underpinned by its strategic plans to expand in the property sector as a leading developer.

He added that the improved performance was primarily driven by the newly acquired Grand Ion Majestic and Grand Ion Delemen projects, with the acquisitions completed in June.

“Moving forward, with the resumption of activities in Genting Highlands plus the opening of its new outdoor theme park, our two projects are expected to generate a sustainable stream of income and cash flow, contributing to the group’s positive prospects for the coming years.

“Looking ahead, with the recent encouraging vaccination rate, we remain optimistic about the outlook as Malaysia’s vaccination rate continues to increase and the nation moves towards achieving herd immunity,” he said.

Yap said that moving forward, NCT Alliance is well positioned to tap into opportunities in the property sector and drive sustainable growth of the group over the long term.

At the midday break today, NCT Alliance settled 5.77% or three sen higher at 55 sen, with 6.36 million shares done.

Source from Edge Prop

To read the original article, please click: https://www.edgeprop.my/content/1899332/nct-alliance-2q-net-profit-surges-rm948m-higher-revenue 

KUALA LUMPUR (September 7): NCT Alliance Bhd (formerly known as Grand-Flo Bhd) net income for the second quarter ended June 30, 2021 (2QGJ21) increased to RM 9.48 million, from a net loss of RM 417,000 Year before due to higher sales of RM49.2 million compared to RM18.88 million previously.

Earnings per share (EPS) rose to Sen 1.78 with a loss per share of Sen 0.14.

In a filing on the stock exchange today, NCT Alliance said its net income for the cumulative six months increased from a net loss of RM 371,000 previously to RM 9.56 million, on total sales of RM 64.71 million compared to RM 42.31 million.

In a separate statement, Datuk Seri Yap Ngan Choy, executive chairman and group managing director of NCT Alliance, said the company’s momentum is underpinned by its strategic plans to expand into the real estate sector as a leading developer.

He added that the improved performance was mainly due to the newly acquired Grand Ion Majestic and Grand Ion Delemen projects, which were completed in June.

“With the resumption of activities in Genting Highlands and the opening of the new outdoor theme park, both of our projects are expected to generate sustainable income and cash flows and contribute to the Group’s positive outlook for the years to come.

“Looking ahead, given the recent encouraging vaccination rates, we remain optimistic about the outlook as Malaysia’s vaccination rate continues to rise and the country moves towards herd immunity,” he said.

Yap said NCT Alliance would be well positioned to develop opportunities in the real estate sector and drive the group’s sustainable growth over the long term.

At lunchtime today, NCT Alliance finished 5.77%, or three sen, higher at 55 sen, with 6.36 million shares sold.

Source from Iketerumens (The Edge)

To read the original article, please click: https://iketerumens.jp/nct-alliance-2q-web-revenue-surges-to-rm9-48m-on-larger-income/ 

KUALA LUMPUR: NCT Alliance Bhd says it has posted the best performing quarter in its history, with a net profit of RM9.5 million in the second quarter (Q2) ended June 30, 2021.

This reverse the net loss of RM417,000 recorded a year ago, NCT Alliance said in a statement today. 

The strong performance was achieved on the back of a higher revenue of RM49.2 million, up 161 per cent from RM18.9 million in the same quarter last year.

For the first half, NCT Alliance recorded a net profit of RM9.6 million from a net loss of RM371,000 in the same period in 2020.

The company's revenue increased 52.95 per cent to RM64.7 million from RM42.3 million previously.

Executive chairman and group managing director Datuk Seri Yap Ngan Choy said the strong results was underpinned by NCT Alliance's strategic plans to expand its presence in the property sector as a leading property developer. 

Yap said the company's improved performance was primarily driven by its newly-acquired Grand Ion Majestic and Grand Ion Delemen projects, with the acquisitions completed in June 2021.

"Moving forward, as the resumption of activities in Genting Highlands plus the opening of its new outdoor theme park, our two projects are expected to generate a sustainable stream of income and cash flow, contributing to the company's positive prospects in the coming years," he added. 

Yap said with the recent encouraging vaccination rate, NCT Alliance remained optimistic about the outlook, as Malaysia's vaccination rate continued to increase and the nation moved towards achieving herd immunity. 

"Moving forward as prospects improve, we are confident that NCT Alliance is well-positioned to tap into opportunities in the property sector and drive the sustainable growth of the company over the long-term," he added.

Source from New Straits Times

To read the original article, please click: https://www.nst.com.my/business/2021/09/725131/nct-alliance-posts-best-performing-quarter-its-history 

KUALA LUMPUR: NCT Alliance Bhd says it has posted the best performing quarter in its history, with a net profit of RM9.5 million in the second quarter (Q2) ended June 30, 2021.

This reverse the net loss of RM417,000 recorded a year ago, NCT Alliance said in a statement today. 

The strong performance was achieved on the back of a higher revenue of RM49.2 million, up 161 per cent from RM18.9 million in the same quarter last year.

For the first half, NCT Alliance recorded a net profit of RM9.6 million from a net loss of RM371,000 in the same period in 2020.

The company's revenue increased 52.95 per cent to RM64.7 million from RM42.3 million previously.

Executive chairman and group managing director Datuk Seri Yap Ngan Choy said the strong results was underpinned by NCT Alliance's strategic plans to expand its presence in the property sector as a leading property developer. 

Yap said the company's improved performance was primarily driven by its newly-acquired Grand Ion Majestic and Grand Ion Delemen projects, with the acquisitions completed in June 2021.

"Moving forward, as the resumption of activities in Genting Highlands plus the opening of its new outdoor theme park, our two projects are expected to generate a sustainable stream of income and cash flow, contributing to the company's positive prospects in the coming years," he added. 

Yap said with the recent encouraging vaccination rate, NCT Alliance remained optimistic about the outlook, as Malaysia's vaccination rate continued to increase and the nation moved towards achieving herd immunity. 

"Moving forward as prospects improve, we are confident that NCT Alliance is well-positioned to tap into opportunities in the property sector and drive the sustainable growth of the company over the long-term," he added.

© New Straits Times Press (M) Bhd

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