KUALA LUMPUR: TA Global Bhd (TAGB) recorded a net profit of RM22.51 million in its third quarter ended Jan 31, 2010 (3QFY10) on the back of RM80.56 million revenue.

There were no comparative figures in the preceding period corresponding quarter as this is the group's first year of preparing its quarterly financial report subsequent to its  listing on the Main Market on Nov 23, 2009.

Earnings per share stood at 0.47 sen. No dividend was declared.

TAGB said the group's pre-tax profit rose 53% to RM26.9 million in 3QFY10 from RM17.6 million in the preceding three months (2QFY10) due to higher revenue from its property development subsidiaries and its hotel division.

For the nine months to Jan 31, net profit stood at RM44.79 million on revenue of RM252.09 million, while EPS stood at 0.93 sen.

"The current economic statistics show that the economy seems to be on the path of recovery," it said, adding that the improved economic environment would boost the demand of future launches of properties and hotel rooms.