KUALA LUMPUR (Nov 29): Kimlun Corp Bhd’s net profit for the third quarter ended Sept 30, 2018 (3QFY18) rose 10.46% to RM15.72 million or 4.81 sen per share, from RM14.23 million or 4.51 sen per share a year ago. 

Quarterly revenue increased 5.75% to RM262.35 million from RM248.08 million, largely due to higher revenue achieved by the manufacturing and trading division. 

This was partly offset by a decline in revenue from construction and property development divisions, the group said in a stock exchange filing.

For the nine months ended Sept 30, 2018 (9MFY18),  Kimlun’s net profit declined 13.94% to RM38.22 million from RM44.41 million during the same period last year. 

This was mainly due to an increase in the exchange rate differences between the ringgit and the Singapore dollar, and higher employee expenses, Kimlun said.

Revenue for the period rose 14.39% to RM701.25 million from RM613.06 million previously, largely due to higher revenue achieved by the manufacturing and trading (M&T) division, partly offset by a decline in revenue from the construction and property development divisions.

The group said its construction and manufacturing balance order book stood at RM1.8 billion and RM4 million respectively as at Sept 30, 2018.

“The balance order book provides a good earnings visibility to the group and is expected to keep the group busy for the next two years,” it said.

Kimlun’s share price was down two sen at RM1.15 today, for a market capitalisation of RM381.65 million.