Kerjaya Prospek posts earnings jump; secures RM245m building works contract

KUALA LUMPUR: KERJAYA PROSPEK GROUP BHD posted a 35% jump in earnings to RM34.41mil in the third quarter on 20.72% higher revenue of RM229.94mil. 

For the nine months to Sept 30, the company's net profit grew 30.4% to RM96.16mil from the previous corresponding quarter while revenue rose 23.4% to RM703.36mil.

Earnings per share (EPS) for the quarter under review grew to 6.40 sen from 5.03 sen in the year-ago quarter, bringing year-to-date EPS to 18.02 sen.

The group has declared an interim dividend of 5.50 sen per share.

Kerjaya Prospek also announced that its wholly owned unit Kerjaya Prospek Sdn Bhd has secured a RM245.35mil contract from BU Developments Sdn Bhd for building works at a residential project in Batu Uban, Penang.

The group announced its acceptance of the letter of award for two phases of the construction of the main building works for the Triuni Residences of The Sanctuary in Batu Uban,  comprising three residential high-rise towers and a basement car park.

The construction works is expected to commence on Nov 30, 2017, and is scheduled for overall completion 48 months from the date.

According to the announcement, the contract enlarges the group’s order book and is expected to provide a steady stream of revenue for the group over the next four years. 

"The Contract will have no effect on the issued share capital of the Company but it is expected to contribute positively to the earnings and net assets per share of the group for the financial years ending 2017 to 2021," said Kerjaya Prospek.

The project owner, BU Developments, holds a portfolio of diversified high end and middle-range property developments in Penang, Kuala Lumpur and Western Australia.

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