Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 27): Kumpulan Perangsang Selangor Bhd's fourth quarter net loss narrowed to RM11.09 million from RM28.93 million a year earlier on revenue growth, lower expenses and higher contribution from 30%-owned associate Syarikat Pengeluar Air Selangor Holdings Bhd (Splash).

In a statement to Bursa Malaysia today, Kumpulan Perangsang Selangor said group revenue rose to RM123.72 million in the fourth quarter ended Dec 31, 2017 (4QFY17) from RM62.91 million.

"Group revenue increased significantly to RM123.7 million compared with RM62.9 million for the corresponding quarter 2016, representing an increase in revenue by 97% or RM60.8 million. This was largely attributable to revenue from the manufacturing business of Century Bond Bhd of RM50.1 million, which was acquired in November 2016. The revenue from trading business of Aqua Flo Sdn Bhd increased to RM25.1 million as well as revenue from the infrastructure business, KPSHCM Sdn Bhd of RM34.5 million. In addition to that, licensing sector of King Koil recorded a higher revenue by RM0.9 million.

"Share of profit of associates increased by RM12.4 million as compared to corresponding quarter 2016 mainly due to higher contributions from Splash," Kumpulan Perangsang Selangor said.

For the full year, Kumpulan Perangsang Selangor said FY17 net profit fell to RM56.66 million from RM97.77 million a year earlier. Revenue was higher at RM362.02 million versus RM144.5 million.

 

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