PETALING JAYA: Kumpulan Perangsang Selangor Bhd’s (KPS) net profit for the first quarter ended March 31 rose nearly two-fold to RM3.14mil from the previous corresponding quarter, as revenue was bolstered by a broader earnings base.
In a filing with Bursa Malaysia yesterday, the group said revenue for the quarter jumped 49% year-on-year (y-o-y) to RM234.4mil, as Toyoplas Manufacturing (Malaysia) Sdn Bhd was included in its investment portfolio following its acquisition last year. Operating profit improved 36% to RM17.9mil from the previous corresponding quarter.
On a segmental basis, the manufacturing business contributed a 75% higher revenue of RM185.1mil.
According to the group, Toyoplas led the revenue contribution with RM76.1mil. There was improved revenue recorded in Century Bond Bhd and King Koil Manufacturing West LLC, while CPI (Penang) Sdn Bhd posted a dip in contribution due to the Covid-19 disruption. In the trading segment, Aqua-Flo Sdn Bhd registered a 26% y-o-y jump in revenue to RM32.7mil.
Meanwhile, in the licensing business, King Koil Licensing Company Inc’s revenue grew 8% to RM12.1mil due to steady traction from international royalty fees.
The infrastructure division experienced a fall in revenue to just RM1.8mil from RM14.2mil previously, as infrastructure works in Pulau Indah approached completion while it was unable to secure pipe rehabilitation and replacement projects.
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