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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