KUALA LUMPUR: Malaysian AE Models Holdings Bhd's (MAE) net profit for the second quarter (2Q) ended Nov 30, 2009 plunged to RM26,000 from RM6.38 million a year earlier mainly due to lower turnover and lower profit margin from projects.

MAE said on Jan 28 customers' delay in taking delivery of the projects was also a contributing factor.

Revenue dipped 10% to RM115.12 million from RM128.43 million while basic earnings per share fell to 0.02 sen from 5.96 sen previously.

For the six months ended Nov 30, 2009, net profit fell to RM503,000 from RM11.55 million a year earlier while revenue fell 23% to RM196.62 million from RM256.22 million. EPS fell to 0.47 sen from 10.8 sen.

MAE said its board remained cautious about the weak global economic environment which might impact its future performance but was optimistic it would remain profitable in the remaining quarters of the financial year ending May 31, 2010.