KUALA LUMPUR (Nov 26): KNM Group Bhd’s net profit for the third quarter ended Sept 30, 2014 (3QFY14) rose more than two-and-a-half times to RM16.44 million from RM6.32 million a year ago, mainly due to better margin contribution and lower operating cost.

This was despite posting a lower revenue of RM430.68 million, down 11.7% from RM487.59 million a year ago. Earnings per share (EPS) for 3QFY14 rose to 1.07 sen from 0.43 sen in 3QFY13.

For the nine months period (9MFY14), KNM’s net profit also increased more than two-and-a-half times to RM41.73 million from RM15.94 million a year ago, while revenue remained almost flat at RM1.41 billion year-on-year.

EPS for 9MFY14 rose to 2.72 sen compared with 1.09 sen a year ago.

On its prospects, KNM said the Asia and Oceanic segment is expected to improve its order book with the contribution from the Pengerang Integrated Complex project in Johor.

“The European segment profitability is expected to continue with its stable order book.

“The profitability of the Americas segment will continue to grow with improved order book which has been secured,” it said.