Aspen Group Holdings has reported profit before tax of RM74.9 million ($24.6 million) for the 3QFY2020 ended September compared to a loss of RM2.5 million in the preceding quarter.

In its business update, the group says the profit came due to operating revenue generated during the quarter despite the negative impact of the Covid-19 pandemic, which “severely restricted” sales and marketing activities as well as construction activities.

According to the group, the higher profit before tax was primarily attributable to the share of profit from its associated company which revalued its investment properties during the quarter and recognized a gain on revaluation of investment properties.

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