Friday 29 Mar 2024
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KUALA LUMPUR (May 27): Kerjaya Prospek Group Bhd's net profit for the first quarter ended March 31, 2021 (1QFY21) rose 18.08% to RM26.38 million, from RM22.34 million a year ago, in line with higher revenue.

Its quarterly revenue also increased by 26.83% to RM268.67 million, from RM211.84 million a year ago, its filing with Bursa Malaysia showed.

The group did not declare any dividend for the latest quarter.

The group said the increase in revenue was mainly due to the group fully resuming its construction projects this quarter compared with the corresponding financial period in the previous year, which was affected by the Movement Control Order implemented by the government on March 18, 2020 in response to the Covid-19 pandemic.

The group also noted that the economic growth both globally and domestically this year will continue to be uncertain.

"The group will continue to monitor and implement appropriate business strategies in a timely manner to address the risk this pandemic may have on the group's operations and financial performance," it said.

It added that the group is supported by an outstanding order book of RM3.4 billion for construction contracts as at March 31, 2021.

Moving forward, it said, the group aims to focus on the construction segment to be the main revenue driver of the group.

Notwithstanding the group's objective to expand its core business in construction, it will still maintain the manufacturing segment to complement its core business, it added.

On the property development segment, it said, the group is planning to launch two new development projects in the second half of 2021.

At noon break, Kerjaya Prospek rose two sen or 1.63% to RM1.25, valuing the group at RM1.52 billion.

Edited ByJoyce Goh
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