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Puncak Niaga posts higher H1 pre-tax profit (6807)

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Puncak Niaga posts higher H1 pre-tax profit (6807) Empty Puncak Niaga posts higher H1 pre-tax profit (6807)

Post by hlk Wed 29 Aug 2012, 20:50

Puncak Niaga Holdings Bhd has posted RM241.708 million pre-tax profit
for the first half ended June 30, 2012 against RM45.477 million pre-tax
loss in the same quarter last year.

Revenue rose to RM1.732 billion from RM1.086 billion.

Executive Chairman Tan Sri Rozali Ismail said water revenue from 70 per
cent-owned
subsidiary, Syarikat Bekalan Air Selangor (Syabas) climbed 3.5 per cent
or 26.4 million to RM791 million due to higher water demand from
consumers in Kuala Lumpur and Selangor.

He said the latest financial results showed positive uptrend and growth in
new
sectors for the group with its recent venture into the oil and gas
industry in the second half of last year, coupled with improved
contributions from local rural water supply projects secured in 2010.

"Puncak
Niaga has made a right decision to invest in the oil and gas sector,
together with its involvement in construction and environmental
engineering.

"The two sectors have contributed to the group's profit," he said in a
statement today.

Rozali said the group would continue with its existing core business and
actively
seek new projects and concessions within the environment sector,locally
and abroad and at the same time strengthen its position in the oil and
gas sector. -- Bernama
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