KUALA LUMPUR: WCT Holdings Bhd
’s efforts in construction order book replenishment have continued to bear fruit, with two contract wins in 2024, according to group managing director Datuk Lee Tuck Fook.
The secured contracts are the North-South Expressway (PLUS) Phase 1: Senai (Utara) to Sedenak (Package A) widening project and the construction and completion of common infrastructure works and a new vehicular underpass at the Kwasa Damansara Township Development in Selangor.
“The group’s outstanding order book stands at RM3.1bil,” Lee said in a statement.
He added that the group’s property division has unbilled sales of RM749mil to date.
In the second quarter ended June 30, WCT’s net profit surged to RM31.3mil, or earnings per share of 2.21 sen compared with RM13mil, or 0.92 sen in the same corresponding quarter last year.
Revenue, however, fell 11.3% to RM376.3mil against RM424.5mil achieved last year.
For the first half, WCT posted a higher net profit and revenue of RM47.4mil and RM843.7mil respectively. The growth was supported by favourable market conditions and meaningful contributions from all business divisions, bolstering overall performance.
“The group recorded a satisfactory financial performance for the first half of 2024. Our engineering & construction division will continue to pursue new opportunities to replenish its order book,” Lee said.
