KUALA LUMPUR (Oct 26): EcoFirst Consolidated Bhd's net profit for the first quarter of financial year 2017 fell 43% to RM1.33 million from RM2.34 million in the corresponding quarter last year, as revenue contracted. For the three months ended Aug 31, 2016, EcoFirst's revenue declined 25% year-on-year to RM17.54 million from RM23.33 million, the group's bourse filing today showed. Revenue for the quarter came mainly from the group's Upper East @ Tiger Lane project in Ipoh, Perak, and the recurring income of two malls, i.e. "Rental income derived from operating its two retail malls will also continue to substantially contribute to EcoFirst's income," it said. At market close today, EcoFirst's share price gained one sen or 3.8% to settle at 27.5 sen, valuing the group at RM216.85 million.

Source: The Edge Markets October 26, 2016 11:37 UTC