KUALA LUMPUR (Aug 20): Gabungan AQRS Bhd, whose share price slipped to record low of 84 sen today, saw its net profit shrunk 61% to RM5.44 million for the second quarter ended June 30, 2015 (2QFY15), from RM14.06 million in the previous corresponding quarter.  

Quarterly revenue down 34.5% to RM85.88 million, from RM131.16 million a year ago, due to lower revenue contribution from construction and property development segment.

The company’s earnings per share (EPS) contracted to 1.4 sen, from 3.96 sen in the previous corresponding quarter.  

For the cumulative six months (1HFY15) ended June 30, the company posted a 55.8% drop on net profit to RM11.54 million, from RM26.1 million in the previous corresponding period.  

Revenue slid 31% to RM191.27 million for 1HFY15, from RM278.83 million a year ago. EPS for the period shed to 2.98 sen, from 7.36 sen a year earlier.  

Going forward, Gabungan AQRS is confident its prospects in the second half (2HFY15) would remain positive.  

"With the new upcoming construction contracts, as well as exciting new property launches, the group is optimistic that its transformation plan, coupled with added focus on improving efficiency and cost structure, will result in stronger performance in the future," it added.  

Shares in Gabungan AQRS (fundamental:1.1; valuation: 0.9) dropped three sen or 3.45% at 84 sen apiece today, for a market capitalisation of RM328.2 million.  

(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.)