Faber Group Bhd has chalked up a pre-tax profit of RM25.6 million for the first quarter ended March 2011, up from RM23.9
million raked in the corresponding quarter last year.

The higher pre-tax profit was mainly due to higher revenue accrued from its integrated facilities management (IMF) and property businesses, it said in a filing to Bursa Malaysia today.

The company's revenue, for the quarter under review, rose 7.70 per cent to RM198.2 million, from RM184 million, registered in the same period last year.

Faber said the IFM concession business recorded higher revenue due to higher variation orders, higher bed occupancy rates and additional new facilities at government hospitals within its concession area.

On prospects, Faber said it would endeavour to improve contribution from all business divisions and focus its effort on IFM business expansion.

However, in view of the non renewal of IFM non-healthcare contracts in United Arab Emirates, the company said it expects the revenue contribution from IFM non-concession in the current financial year to be lower.

Faber expects higher contribution from the property division following the launch of several projects in the last quarter of 2010 and first quarter of this year, it added. -- Bernama