WEC’s manufacturing segment’s Q1 revenue up

WEC said in a filing with Bursa Malaysia yesterday that its construction and property development segment suffered a marginal pre-tax loss, which was offset by improved profits from the group’s manufacturing segment as result of higher revenue.

PETALING JAYA: Wong Engineering Corp Bhd’s (WEC) net profit for its first quarter ended Jan 31, 2022 shrank to RM243,000 from RM2.01mil in the previous corresponding period, mainly due to lower billings as well as share of losses from an associate.

As a result, WEC said in a filing with Bursa Malaysia yesterday that its construction and property development segment suffered a marginal pre-tax loss, which was offset by improved profits from the group’s manufacturing segment as result of higher revenue.