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NewsEversendai 1Q net profit falls 54% yoy to RM10.99m
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Eversendai 1Q net profit falls 54% yoy to RM10.99m
by Cals Tue 27 May 2014, 03:09
| Eversendai 1Q net profit falls 54% yoy to RM10.99m |
| Business & Markets 2014 |
| Written by Ho Wah Foon of theedgemalaysia.com |
| Monday, 26 May 2014 20:52 KUALA LUMPUR (May 26): Eversendai Corporation Bhd’s net profit for the first quarter of this year fell 54% to RM10.99 million, from RM23.68 million in the first quarter of last year. Revenue fell to RM230.72 million, from RM243.18 million, according to the company’s filing with Bursa Malaysia. The company said profit was lower due mainly to lower revenue and costs incurred on the development of new businesses. In a separate press statement, Tan Sri A K Nathan, executive chairman of the group said: “The financial performance for the first quarter of 2014 in terms of profit may not have met our expectations. “However, it has to be taken into consideration that the group is still favoured as a preferred player in this sector. In the interim, we are taking strategic measures which include moving into the steel fabrication and plant construction sector in the oil & gas industry”. |
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