KPS’s 1Q revenue up on improved contribution from divisions

by TMR

Kumpulan Perangsang Selangor Bhd (KPS) revenue for first quarter ended March 31, 2018 (1Q18) rose 24.7% year-on-year (YoY) to RM95.8 million on better contributions from its manufacturing and infrastructure and utilities businesses.

The Selangor state controlled company noted in an exchange filing yesterday, the higher contribution from cement packaging provider Century Bond Bhd (CBB) of RM44 million made up the  45.9% of the group’s 1Q revenue.

Its trading business under Aqua-Flo Sdn Bhd raked in a 4.3% higher increase in sales to RM26.3 million, making up 27.4% of the group’s revenue contribution in the period.

KPS added its infrastructure and utilities segment held via its 51% subsidiary HCM Sdn Bhd, reported a revenue of RM15.0 million, or 15.6% of 1Q18 group revenue, as it delivered on-going works for the RM174.4 million contract to develop Phase 3C of Pulau Indah Industrial Park.

The licensing segment under King Koil Licensing Company Inc reported sales of RM7.8 million or 8.1% of group 1Q turnover.

KPS’s CEO Ahmad Fariz Hassan said the one-off financial charges incurred for the acquisition of CPI (Penang) Sdn Bhd coupled with higher raw material cost in the manufacturing and trading segment resulted in KPS’ recording RM13.2 million in profit attributable to shareholders for the period as compared to net profit of RM20.2 million in 1Q17.