Salcon Reports Higher Profit

Salcon Bhd reported a higher pre-tax profit of RM37.224 million for the financial period ended Dec 31, 2010 from RM33.458 million previously.

Turnover was also higher at RM418.233 million from RM369.873 million previously, it said in its filing to Bursa Malaysia.

For the quarter ended Dec 31, 2010, profit decreased to RM4.102 million from RM8.341 million previously.

Salcon said the targeted completion of the proposed corporate exercise of selling a 40 per cent stake in six of the group's concessions in China to Challenger Emerging Market Infrastructure Fund Pte. Ltd. (EMIF), in the first quarter of 2011, is expected to enable it to expand and seize the opportunities in the China water and waste market.- BERNAMA