AWC Q3 earnings slightly higher

  • Business
  • Monday, 27 May 2019

PETALING JAYA: Engineering services provider AWC Bhd posted a 1% year-on-year increase in net profit to RM6.93mil for the third quarter of the financial year ending June 30, 2019 (Q3FY19), bringing its net profit for the first nine months of FY19 to RM20mil.

This represents an 18% increase as compared to the first nine months of FY18.

Revenue for Q3FY19 was up 18% year-on-year to RM88.86mil. 

According to a Bursa Malaysia filing, the marginal year-on-year increase in net profit for the quarter under review was despite the lower contribution from the facilities division arising from lower revenue as well as the non-recurring unbudgeted costs of RM800,000.

With one quarter remaining for the current financial year, AWC said it is optimistic that the group’s financial performance will remain positive, underpinned by its strong order book balance and its ability to replenish it.As of March 31, 2019, AWC’s outstanding order book amounts to RM1.1bil, which will last the group for the next three to four years.

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