KUALA LUMPUR: AWC BERHAD announced that turnover for its first quarter ended Sept 30, 2009, rose almost 100 per cent to RM36.1 million from RM18.6 million in the same quarter last year.
Pre-tax profit was RM5.3 million compared to a loss of RM1.9 million previously, the engineering services and integrated facility management solutions provider said in a statement on Monday.
The main contribution to growth came from the group's overseas projects in Abu Dhabi, where it has contracts to design and build waste collection systems in Al Beach Raha Island, a premier estate development.
Group chief executive and managing director Azmir Merican attributed AWC's turnaround to the restructuring exercise undertaken during the year.
"In the last financial year, we executed our business transformation plan that saw the group rationalising its business under four core pillars to make it more relevant and competitive in the marketplace. They are facilities, engineering, technology and environment," Azmir said.
"We also took drastic steps to contain costs while improving operational efficiencies. Meanwhile, we have invested in new technologies and human capital development to enhance the quality of service delivery," he said.
"In spite of the tough market conditions and a volatile operating market environment, we recorded a gross profit of RM30.2 million (for financial year ended June 30, 2009), which is an impressive growth 60.2 per cent over the previous year's RM18.8 million," he added. - Bernama
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