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NewsGeorge Kent Bhd 3Q profit up 54% to RM7mil
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George Kent Bhd 3Q profit up 54% to RM7mil
by Cals Thu 12 Dec 2013, 19:03
Published: Thursday December 12, 2013 MYT 6:03:00 PM
Updated: Thursday December 12, 2013 MYT 6:05:04 PM
George Kent Bhd 3Q profit up 54% to RM7mil
KUALA LUMPUR: George Kent (Malaysia) Bhd’s third quarter ended Oct 2013 net profit rose 54.5% to RM7.07mil from RM4.57mil a year ago from profits from its manufacturing, trading and construction segment.
In a filing to Bursa Malaysia on Thursday, the group said its revenue for the period rose 24.4% to RM71.85mil from RM57.72mil a year ago while earnings per share rose to 3.10 sen from 2.0 sen previously.
The group has also declared a 1.5 sen dividend.
For its year-to-date, its profit rose 17.3% to RM17.72mil from RM15.1mil a year ago while revenue was up 55.2% to RM239.49mil from RM154.24mil a year ago.
The company said for its manufacturing and trading segment, its profit was 159% higher at RM6.37mil from RM2.46mil a year ago due to higher gross profit margin from export sales.
For its construction segment, it posted a RM4.22mil profit from RM3.76mil a year ago due to higher contract revenue from projects.
Moving forward, the group expects its construction revenue to be higher.
"The Ampang LRT Extension Project is expected to continue to contribute positively to the earnings of the group,” it said.
Updated: Thursday December 12, 2013 MYT 6:05:04 PM
George Kent Bhd 3Q profit up 54% to RM7mil
KUALA LUMPUR: George Kent (Malaysia) Bhd’s third quarter ended Oct 2013 net profit rose 54.5% to RM7.07mil from RM4.57mil a year ago from profits from its manufacturing, trading and construction segment.
In a filing to Bursa Malaysia on Thursday, the group said its revenue for the period rose 24.4% to RM71.85mil from RM57.72mil a year ago while earnings per share rose to 3.10 sen from 2.0 sen previously.
The group has also declared a 1.5 sen dividend.
For its year-to-date, its profit rose 17.3% to RM17.72mil from RM15.1mil a year ago while revenue was up 55.2% to RM239.49mil from RM154.24mil a year ago.
The company said for its manufacturing and trading segment, its profit was 159% higher at RM6.37mil from RM2.46mil a year ago due to higher gross profit margin from export sales.
For its construction segment, it posted a RM4.22mil profit from RM3.76mil a year ago due to higher contract revenue from projects.
Moving forward, the group expects its construction revenue to be higher.
"The Ampang LRT Extension Project is expected to continue to contribute positively to the earnings of the group,” it said.
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