Property developer Mah Sing Group Bhd posted a 32.3 per cent higher first quarter pre-tax profit for the period ended March 31 to RM41.173 million from RM31.119 million in the same period in 2009.

Its revenue also rose 54 per cent to RM238.312 million from RM150.315 million previously.

The stock climbed 2.7 per cent to RM1.51 at 2.54 pm local time, set for its biggest daily gain since April 7.

Group managing director and chief executive officer Tan Sri Leong Hoy Kum said the first quarter sales were good due to strong response to all segments of its properties.

'The group's residential and commercial projects contributed to the good results. Main contributors to revenue are Southgate, Hijauan Residence, Kemuning Residence and Aman Perdana, all in the Klang Valley, Residence@Southbay in Penang and Sierra Perdana and Sri Pulai Perdana 2 in Johor Baharu,' he said in a statement today.

Besides property development, the group's plastic division also contributed positively to the quarter''s earnings, he added. -- Bernama"