Hatten Land reports lower Q4 net profit

HATTEN Land posted a near 96 per cent drop in net profit to RM2.6 million (S$862,342) for the fourth quarter ended June 30, 2018 in line with lower revenue.

Revenue fell 61.5 per cent to RM50.08 million mainly attributed to lower revenue recognised for Hatten City Phase 2 project, lower sales from Vedro by the River and Hatten City Phase 1 projects in Q4 FY2018.  

Earnings per share came to 0.19 Malaysian cents for the quarter, versus 4.35 cents a year ago. 

For the full year, Hatten Land reported a lower net profit of RM3.18 million compared to RM8.72 million in FY2017, on the back of lower revenue, which fell about 49 per cent to RM235.47 million.

The board of directors has recommended a final dividend of 0.025 Singapore cent per share for FY18.

The counter closed at 16 Singapore cents on Tuesday, up 0.2 cent.