PETALING JAYA: Salcon Bhd returned to the black with a net profit of RM8.27mil for the third quarter ended Sept 30, 2021 (Q3’21), compared with a net loss of RM2.03mil in the corresponding quarter last year.
During the quarter in review, the construction and property company’s revenue rose 21% to RM73.37mil from RM60.22mil in Q3’20.
For the cumulative period, Salcon posted a net profit of RM16.87mil compared with a net loss of RM6.24mil in the nine months to September 2020, thanks to the new addition of the healthcare division to its operations.
Year-to-date, the group’s revenue has almost tripled to RM376.48mil from RM132.57mil in the nine months to September 2020.
Salcon noted that as Malaysia enters the recovery phase under the National Recovery Plan, the group’s construction activities have picked up pace and are expected to end stronger towards the final quarter of the year.
“With Malaysia on track to revive its economy in 2022 through an expansionary budget, the group is optimistic of its future prospects,” it said.