KUALA LUMPUR: Multi-Purpose Holdings Bhd’s (MPHB) net profit for the third quarter ended Sept 30, 2009 rose 27% to RM50.73 million on the back of a 7.1% increase in revenue to RM813.24 million, due mainly to improved performances in its financial services and stockbroking divisions.

It said substantial brokerage income and the writeback of provision for diminution in value of investments in the stockbroking division resulted in profit before tax (PBT) of RM4.6 million compared with a loss of RM2.23 million previously.

Its financial services division reported PBT of RM18.05 million from a loss of RM3.78 million previously due to higher premium earned and lower claim incurred.

Meanwhile, its gaming division had higher payout ratio subsequently reducing its PBT to RM12.77 million from RM34.37 million. It added that the launch of the 4D Jackpot game in September had not been felt yet.

MPHB’s earnings per share rose to 4.9 sen from 4.2 sen.

For the cumulative nine months, it posted a net profit of RM223.16 million on the back of RM2.45 billion revenue, an increase of 60.7% and 6% respectively.

This article appeared in The Edge Financial Daily, November 26, 2009.