KUALA LUMPUR: Kerjaya Prospek Group Bhd
's second quarter earnings ending June 30,2017, rose 33.8% to RM32.9mil from RM24.58mil in the previous corresponding quarter.
Revenue was higher at RM240.2mil in the current quarter from RM193.48mil in the year-ago period. Earnings per share stood at 6.42 sen.
"Overall, the increase in revenue and profit before tax were mainly attributed to the construction segment of the group, which currently has a substantial orderbook comprising of projects awarded by premium property developers in Malaysia," the company said in a statement.
Revenue in the costruction segment totaled RM560.09mil in the current quarter, 15% higher than the previous corresponding quarter of RM486.01mil as a result of higher work in progress and better margins.
The construction segment mitigated the slowdown in the manufacturing segment owing to the completion of existing projects. Revenue in this segment decreased to RM1.93mil in Q2FY17 from RM7.23mil a year ago.
The property development segment recognised revenue of RM34.03mil on more sales and purchase agreements being executed and higher development progress on the project.
Investment holding and other activities posted a segmental profit of RM8.2mil, mainly due to dividend income from its subsidiary.
As at the current quarter, the group has an outstanding order book of RM2.5bil.
The construction division has secured about RM362mil worth of job while its maiden project, Vista Residences, has recorded an encouraging take-up rate with approximately RM83mil in unbilled sales.
At midday, the counter was trading 6 sen or 1.64% higher at RM3.71 on volume of 330,700 shares.
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