Malaysian Resources Corp Bhd's (MRCB) property development segment has boosted the company’s profit by two-fold. Last year a net profit of RM6.51 million was recorded compared to RM12.85 million for the first quarter ended March 31, 2007.

Its property development recorded nearly RM36 million in pre-tax profit on the back of RM202.9 million in revenue.

MRCB said revenue surged 176% to RM276.8 million from RM100 million a year ago. Earnings per share rose to 1.65 sen from 0.85 sen.

The company contributed the increase to higher contributions from the property development, engineering and construction sectors mainly driven by development at Kuala Lumpur Sentral and infrastructure related projects.