HSS Engineers first quarter net profit down

PETALING JAYA: Engineering and project management consultant HSS Engineers Bhd’s net profit dropped sharply to RM339,000 from RM881,000 in the first quarter to March 31 on the back of higher interest expense.

While HSS subsidiary SMHB Engineering Sdn Bhd contributed a profit after tax of RM1.4mil, this was compensated by a higher interest expense which mainly arose from the term loan of RM85mil to part-finance the acquisition of SMHB Engineering.