Boilermech 1Q net profit rises 31% to RM6.46 million

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KUALA LUMPUR (Aug 19): Boilermech Holdings Bhd net profit for the first quarter ended June 30, 2019 rose 31% to RM6.46 million from RM4.93 million a year earlier, on the back of increase in project delivery, especially from the major repair & refurbishment projects.

In a filing to Bursa Malaysia this morning, Boilermech said revenue for the quarter rose to RM60.79 million versus RM54.34 million a year ago.

Earnings per share was 1.25 sen against 0.96 sen previously.

On its prospects, Boilermech said despite the challenging business operating environment, with the improvement of book order since

last financial year, it is cautiously optimistic with the financial performance in the rest of the financial year.

Trading Boilermech shares was halted from 9am to 10am this morning in conjunction with the release of the financial result.