Paramount Corp Bhd's pre-tax profit for the first quarter ended March 31, 2011 rose by 16.3 per cent to RM25.7 million
from RM22.1 million in the same quarter 2010.

Its revenue grew by 1.5 per cent to RM103.9 million from RM102.4 million previously, the company said in a filing to Bursa Malaysia today.

Paramount said the higher profit was attributable to a better performance by the property development sector.

The performance for the group for the next three quarters will be driven mainly by the property development sector, underpinned by lock-in sales from robust demand that continue to spill into 2011, it said. -- Bernama