New acquisitions drive Kerjaya Prospek’s revenue

Kerjaya Prospek Group Bhd revenue grew exponentially to RM190.47 million for its third-quarter (3Q) ended Sept 30, 2016, compared to RM21.69 million a year earlier, as a result of contribution from two construction subsidiaries acquired in January this year.

In a filing last Friday, the construction group noted the acquisitions enabled it to participate in tendering for large projects, while gaining access to a large pool of developers amid a slowdown in the manufacturing sector.

Net profit for 3Q increased to RM25.49 million from RM4.14 million a year ago, while earnings per share improved to 5.03 sen from 4.56 sen. The group announced a dividend of four sen for the quarter.

For financial year 2016 to date, Kerjaya Prospek has won RM1.58 billion of new contracts, bringing the outstanding orderbook to RM2.89 billion as at end-September.