The group noted it had been experiencing increasing bidding/tendering activities in the market and some of these have converted to confirmed orders as can be seen by the overall stable order book at group level and the increasing order book in the oil and gas segment. (File pic shows Wah Seong's pipes coating project)
PETALING JAYA: Wah Seong Corp Bhd returned to the black, with a net profit of RM8.57mil for the first quarter (Q1) ended March 31,2021, compared with a net loss of RM44.43mil in the corresponding quarter last year, driven mainly by its oil and gas segment.
During the quarter in review, the company’s revenue rose 2.1% to RM333.44mil from RM326.74mil in the previous corresponding quarter. Its earnings per share rose stood at 1.11 sen, compared with a loss per share of 5.77 sen.
Limited time offer:
Just RM5 per month.
