PETALING JAYA: George Kent (M) Bhd’s net profit fell 21% in its second quarter ended July 31 to RM8.74mil from RM11.05mil in the same quarter a year ago.
Revenue also fell to RM70.16mil from RM97.72mil previously.
The company said in the notes to its financial statement that its metering and engineering business divisions had been impacted by lower revenue and profit margins.
“The foreign workers at our hospital construction sites have undergone mandatory health screenings for Covid-19. All have tested negative. As such, our Hospital Endokrin Putrajaya team recommenced work on June 9, while our Hospital Tanjung Karang team resumed construction on June 11, ” it said.
“As we do not have foreign workers at our railway project sites, work has resumed, albeit at a slower pace, ” the company added.
In its metering division, George Kent said that metering activities had been disrupted due to the movement control order on March 18.
“The company was allowed to reactivate its production line on April 20, but on a limited scale. Subsequently, we operated with a full workforce and without limitation in operating time effective May 4, again under strict labour movement conditions, ” it said.
For this division, the company said that it was now undertaking production on three shifts, taking care to continue adhering strictly to social distancing and hygiene measures at its production site and workers’ quarters.
The company said that its revenue rose 78% while net profit saw a gain of 135% when compared with the preceding quarter.
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