Gabungan AQRS 3Q18 net profit jumped 81%

by TMR

Gabungan AQRS Bhd’s net profit for the third quarter ended Sep 30, 2018 (3Q18) jumped 80.81% year-on-year (YoY) to RM17.05 million due to higher revenue in the construction segment.
 
In an exchange filing yesterday, the company noted its construction division reported a higher revenue of RM169.8 million in 3Q compared to RM72.3 million in 3Q17, mainly contributed from the work progress for the Sungai Besi – Ulu Kelang (SUKE) Highway and Sultan Ahmad Shah administration centre projects.
 
In terms of pre-tax profit, the division contributed about RM25.7 million, a 19.5% YoY  increase. Its property development division reported a revenue of RM4.4 million in the period mainly due to the advancement of construction progress of ‘The Peak’ project in Johor Bahru. As such, Gabungan AQRS’ revenue for the quarter rose 97.97% YoY to RM159.27 million.