KUALA LUMPUR (Aug 20): WCT Holdings Bhd reported a 9.5% decrease in net profit for the second quarter ended June 30, 2015 (2QFY15) to RM31.06 million, from RM34.3 million in 2QFY14, mainly due to lower contribution from overseas projects and its property development segment.

However, WCT’s revenue was 5.2% higher at RM422.31 million against RM401.47 million a year ago, according to its filing to Bursa Malaysia today.

The group is also proposing an interim single-tier dividend comprising a cash dividend of one sen per ordinary share, and a share dividend via a distribution of treasury shares on the basis of one treasury share for every one hundred ordinary shares held, fractions of treasury shares to be disregarded.

The interim dividend will be payable and credited into the entitled Depositors’ Securities Account on Oct 9, 2015.

For the first half of its financial year ended June 30, 2015 (1HFY15), WCT reported a net profit of RM64.27 million, which was 13.6% lower than its 1HFY14 net profit of RM74.4million.

The group also reported a 10.9% decrease in revenue to RM773.93 million for 1HFY15, from RM868.69 million a year ago, attributable to a lower sale of properties.

On its prospects, WCT said that with the implementation of the 11th Malaysia Plan and the roll out of infrastructure projects, the group is cautiously optimistic about achieving satisfactory results for the financial year ending Dec 31, 2015 (FY15).

WCT (fundamental: 0.6; valuation: 1.4) shares traded down 4.07% today to RM1.18, resulting in a market capitalisation of RM1.42 billion.

(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)