Taliworks 2Q up 32.2% on water treatment, supply and distribution business

by **Cals** Wed 06 Aug 2014, 01:15

Business & Markets 2014

Written by Charlotte Chong of theedgemalaysia.com

Tuesday, 05 August 2014 22:31

KUALA LUMPUR (Aug 05): Taliworks Corporation Bhd has raked in a net profit of RM12.7 million in the second quarter ended June 30 this year — an increase of 32.2% year-on-year from RM9.6 million.

Revenue came in almost 4% higher at RM81.8 million, against RM78.7 million a year ago.

In its result announcement to Bursa Malaysia yesterday, Taliworks Corp said that at the operating level, the water treatment, supply and distribution business achieved a substantial increase in revenue, from RM43.5 million to RM54.5 million.

It attributed the higher revenue to the increase in the bulk sales rate (BSR) for Sungai Harmoni Sdn Bhd and Taliworks (Langkawi) Sdn Bhd effective from Jan 1 this year, coupled with higher electricity rebates arising from increases in electricity rates.

Sungai Harmoni and Taliworks (Langkawi) are wholly-owned subsidiaries of Taliworks.

“Revenue in the construction segment has declined sharply by RM8 million to RM21.5 million, from RM29.5 million, mainly on account of the lower percentage of completion recognised in the on-going Mengkuang Dam Expansion Project,” it said.

As for its six months ended June 30 this year, the group has registered a net profit of RM16.44 million — an increase of 7.9% year-on-year from RM15.24 million. Its revenue was 9.81% higher at RM157.4 million, from RM143.34 million a year earlier.