Eastern & Oriental achieved revenue of RM85.4 million for the financial quarter ended 30 June 2023 as compared to RM76.6
million recorded in the financial quarter ended 30 June 2022, representing an increase of RM8.8 million or 11.5%.
The group said the increase in revenue was mainly attributed to the properties segment which registered an increase of RM3.6 million and the hospitality segment which registered an increase of RM5.0 million. Profit before tax was RM35.8 million compared to profit before tax of RM3.2 million in the financial quarter ended 30 June 2022.
This represented an increase of RM32.6 million or 1,018.8%. The improvement in results in the current financial quarter was mainly due to higher revenue recognition from properties and hospitality segments and higher unrealised foreign exchange gain of RM25.7 million as compared to unrealised foreign exchange loss of RM22.8 million in the previous corresponding financial quarter
Higher revenue in the current quarter was mainly due to higher revenue recognition from the land reclamation and newly launched project, Arica. Higher profit before tax in the current quarter was mainly due to the unrealised foreign exchange gain of RM25.7 million.
