PEMBINAAN Jayabumi (Sarawak) Bhd (PJSB), which is bound for a KLSE second board listing on Aug 20, has forecast a 40% higher profit after tax of RM12.54mil for the year ending Dec 31, 2003, compared with last year’s RM8.97mil.
Revenue in the current year is expected to grow 11% to RM88.98mil from RM80.22mil last year.
The company attributed the expected improvement to an anticipated increase in contribution from government contracts, and its successful diversification into the solid waste management and cleansing business.
“In view of the substantial allocation for sewerage by the government (RM1.6bil under the 8th Malaysia Plan), the group is positioning its strategies to secure a sizeable portion of the sewerage works,’’ it said.
The company said this in its prospectus released on Monday in conjunction with its initial public offering (IPO).
According to last year’s sales breakdown provided in the prospectus, government projects accounted for 65% of the group’s total annual revenue while private sector contracts made up the balance.