KPower posts RM37.4mil net profit in FY21, despite Covid-19 setbacks

KPower deputy chairman and group managing director Mustakim Mat Nun.

KUALA LUMPUR: KPower Bhd earnings slipped in the last quarter ended June 30 due to the Covid-19 pandemic, but the group is optimistic that its businesses will pick up pace in the coming year.

The company made net profit of RM5.9mil in the fourth quarter compared with RM7.3mil a year ago.

Revenue swelled to RM101mil from RM39mil previously.

For the full year (FY21), KPower registered a net profit of RM37.4mil, or 8.3 sen a share. Turnover for the full year was RM389mil.

"Despite a few setbacks of the Group’s plans for the financial year ended June 2021 caused by Covid-19, we remain optimistic and confident that we are able to speed up the pace of the business while strengthening the future plan through securing new projects and business opportunities including asset ownership-based investment, backed by the strong presence in Energy and Utilities segment combined with the enhancement and deployment of resources in other segments," the company said in a filing today.

KPower's construction contributed a revenue RM361mil in FY21, while distribution of healthcare related products in Malaysia and Indonesia generated RM5.5mil.

Newly acquired logistic business contributed RM10.24mil.

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KPower , Mustakim Mat Nun


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