Due to a slowdown in Paramount Corp Bhd's property division, the company expects a lower profit this year.

The company registered a net profit of RM63.6 million, against revenue of RM367.3 million for the financial year ended December 31 2006.

Although the group plans to launch 500 housing units this year with a sales revenue of RM300 million, Paramount group managing director and group chief executive officer Datuk Teo Chiang Quan said profits would be bogged down by a less robust property market.

To counter its property division, the company's education sector is expected to contribute some 40% to pre-tax profits this year compared to 20% last year. Paramount owns the KDU group of colleges.