Posted on 15 Nov 2019
KKB Engineering Bhd’s net profit almost tripled to RM19.3mil for the third quarter ended Sept 30 from RM6.9mil in the corresponding quarter last year.
In its filings with Bursa Malaysia, the group attributed its improved performance in the quarter in review and year-to-date results to higher revenue from its steel fabrication and construction divisions, coupled with improved margins for the engineering sector.
During the quarter in review, KKB’s revenue grew 47.5% to RM165.5mil from RM112.2mil in the previous corresponding quarter, while its earnings per share (EPS) rose to 7.5 sen from 2.69 sen previously.
For the cumulative nine-month period, KKB’s net profit soared almost three-fold to RM28mil from RM10mil, while its EPS grew to 10.88 sen from 3.89 sen in the previous corresponding period.
The group’s revenue jumped 49.3% to RM403mil for the nine months to September 2019 from RM269.9mil previously.
KKB said the group is expected to achieve strong results for the financial year ending Dec 31,2019, supported by the existing contracts in hand for the ongoing construction works and major onshore fabrication jobs for the oil and gas facilities.
In addition, it said the group was continuously pursuing various engineering projects, particularly projects related to the supply, laying and commissioning of water pipes and other related infrastructure works scheduled to be implemented under the Sarawak Water Supply Grid Programme.
