SunCon posts RM35.9mil profit in Q2

In a statement to Bursa Malaysia, SunCon said its subsidiary Sunway Construction Sdn Bhd it accepted a letter of acceptance worth RM23.17mil from Tenaga Nasional Bhd to conduct piling works for the TNB Campus in Kuala Lumpur

PETALING JAYA: Sunway Construction Group Bhd (SunCon) expects its performance this year to be “slightly affected” by the light rail transit line 3 (LRT 3) project review after posting flat earnings in the second quarter.

Net profit in the three months ended June 30 was unchanged at RM35.86mil, despite a 30% jump in revenue to RM544mil. The lower profit margin, SunCon told Bursa Malaysia yesterday, was due to the decline in profitability in its precast segment. The company’s construction business reported RM511.6mil revenue and profit before tax of RM43mil in the second quarter.