KUALA LUMPUR (September 7): NCT Alliance Bhd (formerly known as Grand-Flo Bhd) net income for the second quarter ended June 30, 2021 (2QGJ21) increased to RM 9.48 million, from a net loss of RM 417,000 Year before due to higher sales of RM49.2 million compared to RM18.88 million previously.

Earnings per share (EPS) rose to Sen 1.78 with a loss per share of Sen 0.14.

In a filing on the stock exchange today, NCT Alliance said its net income for the cumulative six months increased from a net loss of RM 371,000 previously to RM 9.56 million, on total sales of RM 64.71 million compared to RM 42.31 million.

In a separate statement, Datuk Seri Yap Ngan Choy, executive chairman and group managing director of NCT Alliance, said the company’s momentum is underpinned by its strategic plans to expand into the real estate sector as a leading developer.

He added that the improved performance was mainly due to the newly acquired Grand Ion Majestic and Grand Ion Delemen projects, which were completed in June.

“With the resumption of activities in Genting Highlands and the opening of the new outdoor theme park, both of our projects are expected to generate sustainable income and cash flows and contribute to the Group’s positive outlook for the years to come.

“Looking ahead, given the recent encouraging vaccination rates, we remain optimistic about the outlook as Malaysia’s vaccination rate continues to rise and the country moves towards herd immunity,” he said.

Yap said NCT Alliance would be well positioned to develop opportunities in the real estate sector and drive the group’s sustainable growth over the long term.

At lunchtime today, NCT Alliance finished 5.77%, or three sen, higher at 55 sen, with 6.36 million shares sold.

Source from Iketerumens (The Edge)

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