Grand Central Enterprises Bhd announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported revenue of MYR 9,464,000 against MYR 10,879,000 a year ago. Profit before taxation was MYR 1,367,000 against MYR 1,866,000 a year ago. Profit attributable to owners of the parent was MYR 835,000 or 0.42 sen per share against MYR 1,213,000 or 0.61 sen per share a year ago.

For the six months, the company reported revenue of MYR 16,585,000 against MYR 19,194,000 a year ago. Profit before taxation was MYR 1,189,000 against MYR 2,194,000 a year ago. Profit attributable to owners of the parent was MYR 344,000 or 0.17 sen per share against MYR 1,227,000 or 0.62 sen per share a year ago. Net cash generated from operating activities was MYR 3,306,000 against MYR 3,777,000 a year ago. Purchase of property, plant and equipment was MYR 1,051,000 against MYR 557,000 a year ago. Net assets per share attributable to ordinary equity holders of the parent as on June 30, 2012 were MYR 1.30 against MYR 1.32 as at June 30, 2011. The lower revenue as compared to preceding year corresponding period is due to the cessation of Grand Central (K.L.) Sdn. Bhd.'s operations effective July 31, 2011 and overall lower occupancy rates.

The company provides earnings guidance for the third quarter ending September 30, 2012. Barring any unforeseen circumstances, the directors anticipate the performance of the Group for the next quarter to remain quiet due to Hari Raya festive season.