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Article: Bank expects E&O to return to the black this year

Article from:
New Straits Times
Article date:
September 4, 2009
Author:
Copyright

Francis Fernandez
New Straits Times
09-04-2009
Bank expects E&O to return to the black this year
Byline: Francis Fernandez
Edition: Main/Lifestyle
Section: Business Times
Type: Company

EASTERN & Oriental Bhd (E&O), a high-end property developer, could return to the black in the current financial year and stay profitable for the next three years, CIMB Investment Bank Bhd said in a report yesterday.

For the year to March 31 2009, E&O suffered a net loss of RM37.28 million compared with a net profit of RM128.85 million a year ago.
"The bottom line should return to the black in 2010 and jump 66 per cent in 2011 and 57 per cent in 2012. We believe robust earnings growth is ...

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