KUALA LUMPUR (Nov 18): Total waste management company JAG Bhd reported its its strongest financial performance since the completion of the reverse take-over in 2014.

In a bourse filing Wednesday (Nov 17), JAG said net profit for the third quarter ended Sept 30, 2021 rose 86% to RM4.59 million from RM2.49 million earlier, on the back of more contracts.

Revenue for the quarter was RM47 million, a slight dip from the RM48 million registered a year ago.

Earnings per share rose to 0.73 sen from 0.55 sen previously.

The company did not declare any dividend.

For the cumulative nine month period, JAG posted net profit RM14.57 million against RM6.16 million earlier, on the back of revenue RM157.65 million versus RM114.72 million previously.

JAG executive director Datuk Ng Meow Giak in a separate statement said external factors such as the stronger commodity prices and the higher procurement of E&E (electrical and electronics) materials contributed to our performance.

"Internally, we also successfully secured 17% more contracts than a year ago, which further boosted our bottom-line.”

“While the pandemic caused tremendous disruptions in manufacturing operations including E&E, it also resulted in significantly higher demand for specific E&E products which in turn spurred the overall growth of semiconductors,” said Ng, adding that JAG is bullish of the year ahead.