PETALING JAYA: TCS Group Holdings Bhd, which is en route to an Ace Market listing on July 23, reported a net profit of RM5.07mil for the first quarter ended March 31.
The construction services provider’s revenue in the three-month period was RM62.69mil, contributed mainly by its residential segment from the revenue recognised from the Hermington, Tropicana Urban Homes and Suria Pantai projects.
“A total of 97.32% or RM61.01mil was from the residential segment while the commercial segment contributed the remaining 2.68% or RM1.68mil, ” the company said in a statement yesterday.
Gross profit was RM11.03mil, translating into a gross profit margin of 17.6%.There are no comparative figures for the preceding corresponding quarter as this is the first interim financial report made available, ahead of the company’s initial public offering.On its financial position, TCS is in a net cash position of RM14.37mil as at March 31, with gearing ratio of 0.45 times.
According to TCS managing director Datuk Tee Chai Seng, the group is off to a good start with a healthy set of results in the first quarter of financial year 2020.