KUALA LUMPUR: Kerjaya Prospek Group Bhd’s net profit rose to RM140.14 mil for the financial year ended Dec 31, 2019 from RM138.20 mil in the same period in 2018.
In contrast, revenue slipped 1.3% to RM1.06 bil from RM1.07 bil previously amid increased contribution from the construction segment.
The group said the segment recorded RM1.01 bil in revenue, up 4.0% from RM970 mil previously, due to progress of construction works on-site.
“The construction segment is expected to continue to deliver positive results and improve overall turnover and profitability,” it said in a filing with Bursa Malaysia.
Kerjaya Prospek’s net profit for the fourth quarter went up to RM36.22 mil from RM33.81 mil in the same quarter in 2018.
Revenue increased 1.2 per cent to RM268.41 mil from RM265.33 mil previously.
“The increase in profit from operations was attributed to the construction segment which has a substantial orderbook comprising of projects awarded by premier property developers in Malaysia,” it said.
Kerjaya Prospek’s outstanding order book stands at RM2.92 bil as at Dec 31, 2019.
It has also secured building construction contracts worth RM1.22 bil and has accepted letters of award amounting to RM990.40 mil.
“The group aims to focus on the construction segment to be the main revenue driver and continue to be vigilant and prudent in achieving its objectives of expansion,” it said, adding that the manufacturing segment will be maintained as part of its integrated business strategy. – Feb 26, 2020, Bernama
