Kumpulan Kitacon posts RM41.9mil net profit in FY22

PETALING JAYA: Kumpulan Kitacon Bhd (KKB) expects the overall construction industry in Malaysia to be affected by numerous challenges, such as shortage of foreign workers to undertake construction activities and the increase in cost of construction materials such as steel and concrete.

In a filing with Bursa Malaysia yesterday, the construction services provider said it is mindful of these challenges and will continue to monitor and take proactive measures to address them.

For the quarter ended Dec 31, 2022, KKB reported a net profit of RM6.65mil on revenue of RM137.65mil, while basic earnings per share stood at 1.33 sen.

There are no comparative figures for the preceding year’s corresponding quarter as this is the second interim financial report on the combined results for the quarter ended Dec 31, 2022.

KKB said its total outstanding order book of approximately RM1.2bil is expected to sustain the group’s earnings and cash flow contribution for the next two years.

“Barring any unforeseen circumstances against the backdrop of a challenging operating environment with inflationary pressures on project costs, the group is optimistic that its fundamentals will remain strong and register good growth for the financial year ending Dec 31, 2023 supported by our existing strong order book.”