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Friday, February 25, 2011

Faber posts lower pre-tax of RM129m (BT)

Faber Group Bhd has registered a lower pre-tax profit of RM129.16 million for the financial year ended Dec 31, 2010
compared with a pre-tax profit of RM141.243 million in 2009.

Revenue improved to RM888.846 million from RM805.282 million, the company said in its filing to Bursa Malaysia today.

The company said the major contribution came from its integrated facilities management (IFM) division with RM137.2 million.

The group said it would endeavour to improve contribution from all business divisions for the current year as well as focus its efforts on IFM business expansion.

However, in view of the non renewal of IFM non-healthcare contracts in the United Arab Emirates, the group expects the revenue contribution from the segment to in 2011 to be lower for the year.

It expects higher contribution from its property division following the launch of several projects in the last quarter of 2010 and the first quarter of 2011. -- Bernama

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