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WCT Holdings posts lower pre-tax profit of RM254.243 mln for FY2013

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WCT Holdings posts lower pre-tax profit of RM254.243 mln for FY2013 Empty WCT Holdings posts lower pre-tax profit of RM254.243 mln for FY2013

Post by Cals Tue 25 Feb 2014, 21:26

WCT Holdings posts lower pre-tax profit of RM254.243 mln for FY2013
Business & Markets 2014
Written by Bernama   
Tuesday, 25 February 2014 19:12

KUALA LUMPUR (Feb 25): WCT Holdings Bhd's pre-tax profit for the financial year ended Dec 31, 2013, fell sharply to RM254.243 million, from RM414.944 million recorded in the 2012 financial year.

Revenue, however, rose to RM1.67 billion, from RM1.56 billion.

For the fourth quarter, it posted a lower pre-tax profit of RM65.418 million, from RM259.839 million in the same period in 2012, while revenue amounted to RM280.384 million — down from RM380.172 million.

In a filing to Bursa Malaysia today, the engineering and construction company attributed the weaker pre-tax profit to lower operating profit.

Its property development and construction segment recorded weaker pre-tax profit of RM173 million, compared with RM358 million in 2012.

Meanwhile, the improved revenue was due to higher contribution from its local division.

Moving forward, the company said that it was cautiously optimistic in achieving satisfactory results, in this financial year.
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