Pesona Metro’s 1Q net profit soars 328% on higher margin projects, industrialised building segment
29 May 2015, 06:22 pm
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KUALA LUMPUR (May 29): Pesona Metro Holdings Bhd’s net profit for the first financial quarter ended 31 March, 2015 (1QFY15) surged 328% to RM3.23 million from RM0.75 million. The group attributed the surge in profit to higher margin projects and contribution from the industrialised building system segment.

“Although the revenue has decreased by RM0.3 million or 1% as compared to the same quarter last year, the group has generated a higher profit before tax of RM4 million for the quarter as compared to RM1.4 million in the same quarter last year.

The increase is mainly due to contribution from higher margin projects as well as the profit contribution from the industrialised building system (IBS) segment,” it said in a statement today.

Quarterly revenue was down slightly at RM63.8 million, a 0.52% drop compared with its previous corresponding quarter.

Going forward, managing director of Pesona Metro, Wie Hock Beng, said that things are looking positive for the group, having secured two new major projects.

“Pesona is proud to say that the group’s prospect in year 2015 is looking bright as we have just recently secured two new projects, namely, the construction of road works for RM170 million and building works for RM267 million.

“Therefore, coupled with the existing orders on hand, the Group has an outstanding order book of RM784 million, comprising 6 projects which are expected to contribute positively to the Group’s revenue and profit for the remaining quarters,” he said.

Pesona Metro closed 1.72% or one sen higher at 59 sen for a market capitalisation of RM340.2 million, with some 1.35 million shares exchanging hands.

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