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NewsProtasco 4Q net profit up 136% y-o-y at RM16m
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Protasco 4Q net profit up 136% y-o-y at RM16m
by Cals Tue 25 Feb 2014, 01:41
| Protasco 4Q net profit up 136% y-o-y at RM16m |
| Business & Markets 2014 |
| Written by Ho Wah Foon of theedgemalaysia.com |
| Monday, 24 February 2014 18:19 |
KUALA LUMPUR (Feb 24): Protasco Bhd announced that its net profit for the fourth quarter ended 31 December 2013 improved by 136% to RM15.9 million, from RM6.7 million a year ago.
For the full financial year of 2013, the net profit improved by almost 30% to RM48.6 million, from RM37.5 million.
“The improved performance was attributable to higher revenue recognised for this financial year from RM794 million to RM972 million, an improvement of 22%,” said the company in a press statement.
“We are delighted that all divisions (construction, property, infrastructure maintenance, engineering services and education) are profitable for the financial year under review,” said group managing director Datuk Seri Chong Ket Pen.
On the prospect of Protasco, Chong said: “Maintenance, construction and property development are expected to contribute significantly to the group’s performance in 2014. Our latest venture into oil and gas industry is expected to start contributing in 2014.”
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