Thursday 28 Mar 2024
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KUALA LUMPUR (Jan 25): TRIplc Bhd, whose share price has surged nearly 60% since May last year, announced that its net profit for its second financial quarter ended Nov 30, 2017 (2QFY18) jumped more than four-fold to RM6.4 million from RM1.54 million a year earlier, mainly from two concessions' income from maintenance activities.

In a filing with Bursa Malaysia today, TRIplc announced that its quarterly revenue rose more than three times to RM41.15 million from RM10.87 million in 2QFY17.

Earnings per share ballooned to 9.33 sen from 2.28 sen in the prior year.

For the first half of its financial year 2018 (1HFY18), net profit surged to RM12.56 million from RM3.12 million in the previous corresponding period, while revenue climbed to RM63.53 million from RM21.73 million.

TRIplc said its concession revenue of RM42.22 million and RM21.06 million were mainly contributed by revenue recognition for UiTM Zone 1 Phase 3 (UiTM-ZIP3) and UiTM Phase 2 (UiTM-Z1P2), Puncak Alam campus project respectively.

It said other revenue recorded was RM240,000 generated from rental of a factory.

On its prospects, TRIplc said with the fixed monthly receivable and steady income from maintenance of project UiTM-ZIP2, coupled with the new concession agreement for project UiTM-ZIP3, these concessions would contribute positively to its earnings and cash flow.

At market close, the company’s share price dropped one sen to RM2.43 for a market capitalisation of RM167.81 million.

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