PLB Engineering Bhd's pre-tax profit for the first quarter ended Nov 30, 2010 rose to RM3.147 million from RM575,000 in the same quarter of 2009.

Its revenue, however, declined to RM14.01 million from RM25.34 million previously.

In a filing to Bursa Malaysia today, PLB said the lower revenue was because the majority of the property development projects were at the end of the construction stage.

It said reserve on consolidation arising upon acquisition of a new subsidiary contributed to the higher pre-tax profit.

PLB said going forward, it remained positive with the operating performance for the remaining quarters of the financial year ending Aug 31, 2011 as it expected to expedite and intensify launches of coming property development projects. -- Bernama