JOHOR BARU: Johor state investment arm Kumpulan Johor Corp's (JCorp) profit before tax and zakat jumped 37-4 per cent to RM962 million for the financial year ended December 2010 from RM700 million in the previous year- JCorp president and chief executive Kamaruzzaman Abu Kassim said the profit was the highest achieved since its inception about 40 years ago- Group sales increased 6-1 per cent to RM7-52 billion from RM7-09 billion previously- At company level, profit before tax and zakat rose 18 per cent to RM118 million compared with RM100 million from the previous year, while sales dropped by 22-4 per cent to RM388 million from RM500 million in 2009- "The decline in sales at company level was due to a major transaction in 2009 involving the mortgage of JCorp's industrial land to a European-based firm- "The increase in profit at group level is due to the excellent performance of companies under the group, with the major contribution coming from Kulim (M) Bhd," Kamaruzzaman said in a statement on Monday- JCorp also attributed the rise in crude palm oil towards the end of 2010 and increased operational efficiencies as factors leading to sound profit for its plantation division, which owns estates in Malaysia, Papua New Guinea and the Solomon Islands- The group said the performances of QSR Brands Bhd, including fast food unit KFC Holdings (M) Bhd, had also improved - enhancing its contributions to Kulim- Its healthcare division KPJ Healthcare Bhd had contributed to the good financial performance of JCorp through the strategic planning of increasing specialised healthcare to patients, it added- Until the end of last year, a total of 20 hospitals and medical centres were under KPJ Healthcare, including two in Indonesia- JCorp also credited its property division, which is spearheaded by Johor Land Bhd and Damansara Assets Sdn Bhd, as other contributors to its higher earnings-   ...

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