Vizione’s 2Q profit almost tripled

Vizione Holdings Bhd’s net profit for the second quarter ended Nov 30, 2018 (2QFY19) increased almost three-fold to RM19.44 million from RM6.55 million a year ago, mainly attributed to construction works undertaken during the quarter by Wira Syukur (M) Sdn Bhd.

In an exchange filing yesterday, the group noted it incurred RM1.94 million corporate exercise expenses for the acquisition of Wira Syukur in the same quarter last year.

Revenue for the three months rose 12.53% year-on-year (YoY) to RM165.75 million.

Vizione said the reduced public spending in the immediate fiscal year and steep reduction in the operating margin will be challenging to the industry.