Cypark Q4 net profit rises to RM20.18mil


An aerial view of the Pajam Renewable Energy Park. - Filepic

An aerial view of the Pajam Renewable Energy Park. - Filepic

PETALING JAYA: Cypark Resources Bhd saw its fourth quarter net profit ended Oct 31 rising by 11% to RM20.18mil from the same quarter a year ago on the back of year-on-year (y-o-y) revenue also rising by a larger quantum by 24% to RM79.66mil.

It said in its Bursa Malaysia announcement that profits rose due to the improved performance in the landscaping and infrastructure division and the Green Tech & Renewable Energy business segment.

It said that performance in the landscaping and infrastructure division was mainly attributable to the increase in work activities for the preliminary works and site preparation works from the new projects secured.

It said the green tech and renewable energy space were mainly boosted by the cost efficiency achieved in operation and continuous saving achieved in finance costs.

Moving forward, Cypark said it will move on to its next phase of business transformation.

The company said that this will see it continue to focus on managing cost and investment, optimising manpower and operation, and increasing productivity and efficacy.

This will eventually boost its market share and competitive advantage, it said.

“Cypark will continue to enhance its resources in research and development for continuous innovations and creativity as a solution provider in environmental engineering, green technology, and renewable energy,” it said.