Within expectations. Excluding RM10.3m disposal gains, normalised FY03/10 net profit of RM98.3m came in roughly in line with our forecast and the market consensus. Normalised FY03/10 net profit rose +92.4% underpinned by RM1.25bn sales registered in FY03/10 that exceeded its internal target of RM1bn by a whopping 25%. IJM Land has proposed an interim net dividend of 2 sen (ex-date n 28 Jul 2010) that is in line with our expectation.
IJM Land Berhad : FY03/10 Net Profit Almost Doubles From A Year Ago -27/05/2010
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