George Kent posts lower Q3 pre-tax profit

George Kent (Malaysia) Sdn Bhd reported a drop in pre-tax profit to RM17.076 million in the first nine months of 2011 compared with RM21.286 million registered in the same period last year. Revenue also fell to RM103.321 million during the period under review, from RM117.113 million recorded previously.

In a filing to Bursa Malaysia today, the company said for the third quarter
ended Oct 31, 2011, pre-tax profit dipped to RM4.919 million versus RM10.652
million posted in the same quarter last year.

Revenue for the quarter also dropped to RM31.236 million from RM45.722
million previously.


"The results achieved were in line with expectations, and reflected the
cautious sentiment brought about by concerns over Europe's sovereign-debt crisis and a global economic slowdown," company chairman Tan Sri Datuk Tan Kay Hock said in a media release.

Tan said notwithstanding the current economic climate, the company believes
in the long-term prospects of its meters business.

He added that the company has the necessary mechanical and electronic
engineering capabilities and track record to be one of the private sector
players to secure some of the high-value infrastructure projects under the 10th
Malaysia Plan and Economic Transformation Programme. -- Bernama