Kerjaya Prospek net profit slips to RM24.18mil in 3Q


KUALA LUMPUR: Kerjaya Prospek Group Bhd's net profit declined to RM24.18 million in the third quarter ended Sept 30, 2021 as compared with RM30.38 million registered in the same period a year ago.

For the period under review, revenue inched up to RM222.64 million from RM222.21 million registered in the corresponding preceding period.

"Overall, the increase in revenue for the current quarter under review was mainly due to progress construction work on site,” Kerjaya Prospek said in a filing with Bursa Malaysia today.

The company explained that under its property development segment, the Vista Residence project at Genting Permai was completed in 2019 and there are no projects under development for the financial quarter under review.

"Therefore, the property development segment has minimum contribution to the group's results,” it added.

For the final quarter of 2021, the group will 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 RM3.6 billion for construction contracts as at Sept 30, 2021.

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

"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 first half of 2022,” it added. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Kerjaya Prospek , development , construction ,

   

Next In Business News

Nasdaq futures slump 2% as rising yields spark tech rout
UK employers add record number of jobs, unemployment falls
Starbucks ties up with Meituan to bolster presence in crucial China market
Australian shares slip as healthcare, banking stocks drag
China has plenty policy tools in reserve to cope with slowing economy - state planner
BOJ raises inflation forecasts, maintains ultra-easy policy
US yields up along the curve as traders brace for hawkish Fed
Oil rises to more than 7-year high on Mideast tensions
China Merchants Bank-backed SPAC files first application under new Hong Kong rules
Asia shares tick higher as spotlight stays on Fed

Others Also Read


Vouchers