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NewsHock Seng Lee 1Q profit falls 16% on lower construction income
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Hock Seng Lee 1Q profit falls 16% on lower construction income
by Cals Fri 23 May 2014, 00:18
| Hock Seng Lee 1Q profit falls 16% on lower construction income |
| Business & Markets 2014 |
| Written by Chong Jin Hun of theedgemalaysia.com |
| Thursday, 22 May 2014 17:47 KUALA LUMPUR (May 22): Hock Seng Lee Bhd's net profit fell 16% to RM16.4 million in the first quarter ended March 31, 2014 from RM19.5 million a year earlier as construction income declined. In a statement to the exchange today, Hock Seng Lee said revenue was lower at RM116 million versus RM135.1 million. Hock Seng Lee said construction income had fallen "mainly due to lower progress claims of construction works due to timing and nature of the contracts during the quarter." |
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