KUALA LUMPUR (Nov 20): HCK Capital Group Bhd returns to the black in the third quarter ended Sept 30, with a net profit of RM2.3 million against a net loss of RM1.6 million in the previous corresponding quarter.  

Quaterly revenue doubled to RM16.5 million, from RM8.9 million previously.  

In a filing with Bursa Malaysia this evening, the group said the increase in profits were mainly due to contribution from the property segment, in line with their increase in revenue.

However, this was offset by a loss before tax recorded by the industrial machine and engineering segment during the current quarter under review.  

For the nine months ended Sept 30, HCK Capital recorded a net profit of RM6.4 million, from a net loss of RM3.7 million previously. Revenue also increased to RM51.1 million, from RM27.9 million a year ago.  

HCK Capital said it was "cautiously optimistic" that its property division was expected to contribute positively to the group's earnings, despite the more challenging environment in the property market.  

"As for the industrial machine segment, it continues to operate in a competitive environment and is therefore expected to remain challenging for the remaining quarter of the financial year," it said.  

HCK Capital share price closed unchanged at RM3.09, giving it a market capitalisation of RM142.8 million.