Eversendai 2Q net profit RM34m, book order RM1.39b

KUALA LUMPUR: Recently-listed Eversendai Corporation Bhd posted net profit of RM34.03 million in the second quarter ended June 30, 2011 and expects its strong performance to continue in the remaining financial year, underpinned by a book order of RM1.39 billion.

It said on Friday, Aug 19 that revenue was RM258.14 million while earnings per share were 5.96 sen.

For the six-months period, its earnings were RM56.59 million on the back of RM465.99 million in revenue.

Eversendai said its book order of RM1.39 billion as at June 30 comprised of 41 projects, 74% from which were in the Middle East, 21% in India and 5% in Malaysia.

“With the diverse and strong order book, the group is strategically positioned to perform well in FY 2011,” it said.

The company said the wide geographical spread, number of projects and large client base of the current order book would minimise its risk profile substantially as it did not depend solely on any specific sector and or client.