KUALA LUMPUR: DNP Holdings Bhd posted a net profit of RM10.53 million in the second quarter (2Q) ended Dec 31, 2009, up 320% from RM2.51 million a year earlier, boosted by its property development and trading divisions.

It said today revenue rose 58% to RM87.23 million from RM55.25 million, while earnings per share improved to 3.38 sen from 0.81 sen.

For the first half, net profit doubled to RM20.34 million from RM10.51 million, while revenue rose 17% to RM151.97 million from RM129.45 million.

"With improving domestic economic conditions, the group expects an improvement in the property development and apparel and lifestyle divisions," DNP said.

According to the notes to its accounts, DNP had cash and bank balances of RM93.81 million as at Dec 31, compared with RM30.31 million at June 30.

However, its borrowings had increased to RM63.96 million from RM48.73 million. Trade and other payables were at RM133.63 million, up from RM84.96 million.