Bina Puri Holdings Bhd's pre-tax profit for the third quarter ended Sept 30, 2010 increased to RM4.25 million from RM2.81 million in the corresponding quarter in 2009.

In a filing with Bursa Malaysia today, it said net profit rose to RM3.29 million from RM1.81 million and revenue jumped to RM294.76 million from RM208.16 million.

For the nine-month period, its pre-tax profit increased to RM11.23 million from RM6.90 million in the corresponding period in 2009.

Its net profit increased to RM8.13 million for the nine months from RM4.39 million and revenue rose to RM860.90 million from RM529.42 million previously.

Bina Puri said the construction division recorded a revenue of RM799.70 million and net profit of RM9.4 million for the nine-month period compared with the previous corresponding period's RM465.20 million and RM4 million respectively.

'The division's improved performance was mainly attributable to progressive profit recognised from the projects in progress,' it said.

It said the group would continue to focus on and enhance its main core businesses.

Bina Puri said it has successfully secured several projects locally and in Thailand, Pakistan, Brunei and Saudi Arabia, and would also be launching its own development projects in Klang Valley, Johor Bahru and Kota Kinabalu.

'The current value of contract work in progress is approximately RM2.7 billion, which is expected to provide a steady stream of revenue over the next three years,' it said.

It said the construction of the 33km Kuala Lumpurand#8211;Kuala Selangor Expressway (KLS) dual carriageway linking the coastal area of north-west Selangor with Kuala Lumpur was on target and would be fully operational by the first quarter of 2011.

'The KLS will contribute positively to the group's earnings,' it said.

It said the group was currently exploring business opportunities that would contribute recurring income to the group.

In a separate statement, Bina Puri's group managing director, Tan Sri Tee Hock Seng, said moving forward, the company was optimistic on its performance for next year due to the good outlook for the construction industry. -- Bernama