Hock Seng Lee 1Q net profit slumps 46% to RM7.55m


HSL group managing director Datuk Paul Yu Chee Hoe said HSL’s order book currently is at RM3.4bil with an outstanding balance of RM2.2bil.

KUALA LUMPUR: Sarawak-based construction company Hock Seng Lee Bhd’s net profit fell by 46.3% to RM7.57mil in the first quarter ended March 31,2020 compared with RM14.11mil a year ago as it was impacted by the onset of the Movement Control Order (MCO).

It said on Thursday its pretax profit fell to RM10.13mil compared with RM18.76mil. Its revenue was down by 23.3% to RM112.39mil from RM146.72mil. Earnings per share were 1.37 sen compared with 2.56 sen.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Swedish central bank lowers key rate, sees two more cuts this year
Public Bank mobilises over RM53bil in sustainable finance
Stinky tofu tycoon a Changsha success story
Indonesia sees more capital inflows after April rate hike, c.bank governor says
Bank Negara international reserves fall to US$112.8bil
Oil dips on rising US stockpiles, cautious supply expectations
Alstom to ask shareholders for US$1bil in rights issue to slash debt
Shell to sell Singapore refinery, petrochemical assets to Chandra Asri and Glencore
Malaysia mulls giving full tax exemption on emergency PRS withdrawals
CIMB Research expects OPR to stay at 3.0%

Others Also Read