KUALA LUMPUR: TASEK CORPORATION BHD [] net profit for the third quarter ended Sept 30, 2010 jumped 40.7% to RM27.99 million from RM19.89 million a year ago due to the local cement price revision during the last quarter and also lower production costs.

It said on Tuesday, Oct 26, revenue rose 7.7% to RM143.78 million from RM133.48 million a year ago. Earnings per share were 17.52 sen compared with 10.72 sen. Net assets per share was RM6.99.

Tasek said the improvement in its results was due to the local cement price revision during the last quarter coupled with lower production cost during the quarter as compared to a year ago.

In addition, a gain of RM1.5 million from the disposal of land belonging to a subsidiary and the higher interest income also contributed to the higher profit for the group during the reporting quarter. Tasek said it expected its performance for the remaining quarter to remain profitable.