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KNM’s 2Q earnings rise 50.4% yoy

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KNM’s 2Q earnings rise 50.4% yoy Empty KNM’s 2Q earnings rise 50.4% yoy

Post by Cals Wed 27 Aug 2014, 23:20

KNM’s 2Q earnings rise 50.4% yoy
Business & Markets 2014
Written by Supriya Surendran of theedgemalaysia.com   
Wednesday, 27 August 2014 18:47

KUALA LUMPUR (Aug 27): KNM Group Bhd recorded a 50.4% jump in net profits for its second quarter ended June 30, 2014 (2QFY14) to RM11.12 million, from RM7.39 million a year ago, mainly due to better project contribution margin.

In a filing with Bursa Malaysia today, the oil and gas group said revenue rose 12.7% to RM489.31 million in 2QFY14, from RM434.09 million a year ago.

For its six months ended June 30, 2014 (1HFY14), KNM reported a two-fold increase in net profits to RM25.29 million, as compared to RM9.61 million a year ago.

For 1HFY14, the group recorded a revenue of RM983.2 million, which was 6.4% higher than the RM923.71 million recorded a year ago.

The group stated that its Asia and Oceanic segment had registered lower job progress recognition but a better project contribution margin, whereas its Europe and Americas segments' contribution had improved.
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