Ecoworld’s Q1 net profit rises over threefold to RM30.32m
KUALA LUMPUR, March 28 — Eco World Development Group Bhd’s net profit surged to RM30.32 million for the first quarter ended January 31, 2019 , from RM9.77 million in the same period last year following a turnaround in the performance of its joint ventures.
On its 27 per-cent-owned international joint venture, EcoWorld International Bhd , the group said it continued to be profitable in the quarter under review following the start of the delivery of completed units at London City Island and Embassy Gardens in the fourth quarter of the 2018 financial year .
Meanwhile, in a separate statement, the group said it had set a combined sales target of RM12 billion for EcoWorld and EWI, with the two companies aiming to hit RM6 billion sales each for the financial year ending Oct 31, 2019 and FY20.
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