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Crest Builder 3Q profit rises 45% to RM5.7m

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Crest Builder 3Q profit rises 45% to RM5.7m Empty Crest Builder 3Q profit rises 45% to RM5.7m

Post by Cals Tue 19 Nov 2013, 17:55

Crest Builder 3Q profit rises 45% to RM5.7m
Business & Markets 2013
Written by Jeffrey Tan of theedgemalaysia.com   
Tuesday, 19 November 2013 17:38
KUALA LUMPUR (Nov 19): Crest Builder Holdings Bhd’s net profit rose 45% year-on-year to RM5.7 million in the third quarter ended September 30, 2013 from RM3.9 million.

But revenue fell 54% to RM67 million from RM146 million. In a statement to Bursa Malaysia, the construction and engineering firm attributed the larger profit to higher margins from projects in the reviewed quarter.

Crest Builder said the fall in revenue was due to completion of certain projects by end of last year. 

For the nine-month period, net profit was higher at RM33 million versus RM13 million a year earlier while revenue declined to RM243 million from RM392 million.

Looking ahead, Crest Builder said its construction division will continue to bid actively for domestic jobs.

This is in view of opportunities available from the Tenth Malaysia Plan and infrastructure projects planned under the Economic Transformation Programme.
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