PETALING JAYA: Kelington Group Bhd
(KGB) saw a 4% year-on-year (y-o-y) increase in its net profit for the third quarter ended Sept 30, 2024 (3Q24), despite a fall in revenue during the quarter.
Net profit rose to RM32.9mil, translating to earnings per share of 4.83 sen, underpinned by a strategic focus on revenue composition and a favourable project mix, along with contributions from the industrial gases division.
Revenue for the period fell by 24% y-o-y to RM307.3mil due to lower revenue contributions from Singapore and Malaysia, as several major projects in these areas had transitioned out of their accelerated phases and were approaching completion.
For the nine months ended Sept 30, 2024, KGB’s net profit registered a 26% y-o-y increase to RM84.4mil.
