Hock Seng Lee posts two-fold increase in Q2 earnings


HSL managing director Datuk Paul Yu Chee Hoe said the high Covid-19 infection numbers had impacted the construction sector’s timetables and productivity greatly.

KUALA LUMPUR: Hock Seng Lee Bhd’s (HSL) net profit jumped more than two-fold to RM8.75mil in the second quarter ended June 30, 2021 (Q2’21) from RM3.95mil in the corresponding period a year before on higher contribution from the construction segment.

During the quarter under review, HSL’s revenue grew 71.9% to RM142.79mil from RM83mil in Q2’20.

The company said its construction activities contributed RM114.48mil, or 80% of revenue.

For the first half to June 2021 (H1’21), HSL’s net profit was 55.1% higher at RM17.85mil, compared with RM11.51mil in H1’20, while revenue jumped 54.6% to RM302mil against RM195mil last year.

HSL managing director Datuk Paul Yu Chee Hoe said the high Covid-19 infection numbers had impacted the construction sector’s timetables and productivity greatly.

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