KUALA LUMPUR (Nov 17): Kelington Group Bhd saw its net profit double to RM15.7 million for the third quarter ended Sept 30, 2022 (3QFY22), from RM7.96 million in the same quarter a year ago, driven by higher contribution from all of its operating segments.

Quarterly revenue more than tripled to RM366.39 million, against RM106.37 million previously.

Its basic earnings per share increased to 2.4 sen, from 2.29 sen a year ago.

In terms of geographical breakdown, the integrated engineering solutions provider’s revenue contribution was led by Malaysia (47%), followed by Singapore (34%), China (15%) and Taiwan (3%).

The ultra-high purity segment remained the primary contributor at RM206.6 million, or 56% of total revenue during the quarter under review. This was followed by the general contracting division (RM121.6 million), industrial gases division (RM20.5 million) and process engineering division (RM14.1 million).  

On prospects, Kelington said it continues to enjoy a healthy order book replenishment rate in its ultra-high purity, process engineering and general contracting segments. As at Sept 30 2022, it has secured new contracts amounting to RM1.36 billion during the year.

“Including the projects carried forward from previous years, our total order book stood at RM2.4 billion, of which RM1.6 billion remains outstanding,” it noted.

At market close on Thursday (Nov 17), Kelington’s share price fell five sen or 3.7% to RM1.30, giving it a market capitalisation of RM838.82 million.