Eversendai posts profit of RM21m in 2Q17

Eversendai Corp Bhd posted a net profit of RM20.6 million or earnings per share of 2.66 sen for its second-quarter ended June 30, 2017 (2Q17), driven by it structural steel business in the Middle East, Malaysia and India.

The company recorded a net loss of RM21.3 million or loss per share of 2.75 sen for the same period last year. Second-quarter revenue stood at RM465.4 million versus RM421.6 million in 2Q16, its exchange filing yesterday noted.

Eversendai’s structural steel and construction business in the United Arab Emirates contributed 56.4% or RM485.9 million to group revenue of RM861.8 million for the first six months of the year, while Malaysia contributed 11.4% of the revenue.

The group’s oil and gas business made RM136.9 million in revenue for the six months, but saw a net loss of RM2.5 million.