Escalating costs a drag on Tuju Setia’s earnings

KUALA LUMPUR: Tuju Setia Bhd posted a lower net profit of RM421,000 in the first quarter ended March 31 (1Q22), compared with RM3.49mil last year, escalated building materials and labour costs as well as preliminaries costs.

The construction services company saw its revenue jump 43.7% to RM85.2mil from RM59.3mil in the previous year’s corresponding quarter.