Water meter business buoys George Kent earnings in Q2 


KUALA LUMPUR: George Kent (M) Bhd said strong orders for its water meters helped mitigated the weaker contribution from its construction division in the second quarter ended July 31.

Net profit fell 21% to RM8.7mil on revenue of RM70.2mil, the company said in a filing with Bursa Malaysia today.

The company said orders for the group’s water meters were largely uninterrupted were largely unaffected during the movement control order period.

George Kent said its construction activities had ceased completely during the Movement Control Order (MCO) but were restarted in mid-June 2020 after the completion of mandatory foreign worker health screenings.

"As expected, this cessation of activity has affected our performance, not unlike other construction companies," it said.

The group water metering business kept the company afloat during the quarter.

"The Group in Q2FY2021 took steps to gradually restore its manufacturing capacity to clear the backlog of orders, and cater for new orders from local and regional water authorities," it said.

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