Kerjaya Prospek 2Q net profit jumps 59% to RM16mil

KUALA LUMPUR: Kerjaya Prospek Group Bhd’s net profit jumped 59% to RM16mil in the second quarter ended June 30 (2Q21) against RM10.06mil a year ago.

Its revenue rose 48.2% to RM189.89mil compared with RM128.10 in the same period last year.

“Overall, the increase in revenue for current quarter under review was mainly due to the group has fully resumed its construction projects except during FMCO which started from June 1- 28 as compared to corresponding preceding financial period which was affected by the implementation of MCO on March 18, 2020 in response to the Covid-19 pandemic,” Kerjaya said in the notes accompanying its financial results.

On the property development segment, Kerjaya said the Vista Residence project at Genting Permai was completed in 2019 and there were no projects under development for the financial quarter under review.

Therefore, the property development segment has minimum contribution to the group's results.

Kerjaya said for the financial quarter under review, the main sources of income for the investment segment was interest income.

In the first six months to June 30, Kerjaya’s net profit surged to RM42.4mil from RM32.4mil in the previous corresponding period, while revenue grew to RM458.56mil from RM339.93mil a year earlier.

Kerjaya said it would continue to monitor and implement appropriate business strategies in a timely manner to address the risk this pandemic may have on the group’s operations and financial performance.

“Nevertheless, the group is supported by an outstanding order book of RM3.3bil for construction contracts as at June 30.

“Moving forward, the group aims to focus on the construction segment to be the main revenue driver of the group,” Kerjaya said.

“Notwithstanding the group's objective to expand its core business in construction, it will still maintain the manufacturing segment to complement its core business.

“On the property development segment, the group is planning to launch two new development projects in the second half of 2021,” it added.

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