Hock Seng Lee reports RM116.598mil profit

KUALA LUMPUR: Sarawak-based infrastructure specialist, Hock Seng Lee Bhd's pre-tax profit for the financial year ended Dec 31, 2011, rose to RM116.598 million from RM98.419 million in 2010.
Revenue for the period was also up to RM581.515 million from RM488.276 million, previously.
In a statement today, Managing Director Datuk Paul Yu Chee Hoe
said the growth in revenue and earnings was mainly attributed to its
strategic focus on innovation and technology within its fields of core
strength, in marine and civil engineering.
For its fourth quarter ended Dec 31, 2011, Hock Seng Lee
posted a pre-tax profit of RM34.955 million, an increase from the
RM28.955 million recorded in the corresponding quarter of 2010.
Revenue for the three-month period also rose to RM158.587 million from RM150.266 million, previously.
"HSL's
order book stands at RM1.8 billion and our construction teams are busy
across the state with RM1.1 billion worth of projects outstanding.
"Ten
new projects worth RM313 million were procured in 2011. The prospects
for further order book replenishment in 2012 is encouraging," Yu said. -
BERNAMA