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NewsKimlun 1Q net profit soars 117% on year, revenue up at RM335m
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Kimlun 1Q net profit soars 117% on year, revenue up at RM335m
by Cals Fri 30 May 2014, 19:47
| Kimlun 1Q net profit soars 117% on year, revenue up at RM335m |
| Business & Markets 2014 |
| Written by Chong Jin Hun of theedgemalaysia.com |
| Friday, 30 May 2014 13:33 KUALA LUMPUR (May 30): Kimlun Corp Bhd's net profit rose 117% to RM19.5 million in the first quarter ended March 31, 2014 from RM9 million a year earlier. Revenue was higher at RM335.1 million versus RM214.4 million. In a statement to the exchange today, Kimlun said profit growth came on higher revenue from its construction, property development, besides manufacturing and trading divisions. "The board expects 2014 as an exciting year for the group on the back of estimated balance order book of approximately RM2.09 billion as at 31 March 2014. The sizable balance order book together with the estimated unbilled property sales value of RM131 million from the Hyve on a 70% take-up rate provides a good earnings visibility to the group. "The board is optimistic that the construction sector of Malaysia and Singapore will continue to be vibrant in 2014, thus, order book replenishment prospects remain encouraging," Kimlun said. |
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