HSS Engineers 2Q earnings jump 148%


“Our strong financial performance this quarter underscores our improving fundamentals,” executive vice-chairman Tan Sri Kuna Sittampalam said

KUALA LUMPUR: HSS Engineers Bhd’s (HEB) net profit rose 147.9% to RM3.9mil for the second quarter (2Q) ended June 30, 2022. This came on the back of favourable project mix from project management consultancy (PMC) works for Phase 1 of the Pan Borneo Highway Sabah project.

However, revenue fell 2.9% to RM37.9mil, the engineering and project management consultant said in a filing with Bursa Malaysia.

Its earnings per share for 2Q stood at 0.79 sen, from 0.32 sen in the same quarter a year ago.

The company said as at June 30, its unbilled order book stood at RM529.4mil, providing earnings visibility over the next five years.

This had yet to incorporate the RM997.4mil appointment of the HSS joint venture (formed by HSS Integrated Sdn Bhd and HSS Engineering Sdn Bhd) by MRT Lingkaran Sdn Bhd to undertake the PMC role for MRT Circle Line (MRT 3), which will contribute to the group from the third quarter of 2022 onwards till 2033.

“Our strong financial performance this quarter underscores our improving fundamentals,” executive vice-chairman Tan Sri Kuna Sittampalam said in a statement.

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