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NewsFavelle Favco 2013 pre-tax profit soars to RM10.22 mln
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Favelle Favco 2013 pre-tax profit soars to RM10.22 mln
by Cals Tue 25 Feb 2014, 21:24
| Favelle Favco 2013 pre-tax profit soars to RM10.22 mln |
| Business & Markets 2014 |
| Written by Bernama |
| Tuesday, 25 February 2014 19:43 |
KUALA LUMPUR (Feb 25): Favelle Favco Bhd's pre-tax profit for the financial year ended Dec 31, 2013, rose to RM79.99 million, from RM66.68 million chalked up in 2012.
Revenue rose to RM764.19 million, during the period under review, from RM696.75 million recorded previously.
For the fourth quarter, the company's pre-tax profit rose to RM28.46 million, from RM10.95 million recorded in 2012, while revenue surged to RM257.14 million, from RM171.65 million.
In a filing to Bursa Malaysia today, Favelle Favco said that the better results were attributed mainly to increase in revenue.
On prospects, the group will continue to execute and deliver its existing order book, secured in hands.
"As at Feb 18, 2014, the group's outstanding order book is RM1.06 billion, of which the bulk is from the oil and gas cranes, for the offshore oil and gas exploration and production operations, shipyard, construction and the wind turbine industry," the company added.
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