Results: GKent 2Q net profits up 19% to RM6.1mil, issues 2 sen dividend

-A +A

KUALA LUMPUR (Sept 17): George Kent (M) Bhd net profit for the second financial quarter ended July 31, 2014, rose 19% to RM6.08 million, from RM5.11 million a year ago.

The company had attributed its higher profits to lower operating expenses.

Revenue for the quarter fell 10% to RM75 million, from RM82.95 million a year ago.

Net profits for the first half of the year rose to RM12.57 million from RM10.65 million, while revenue fell to RM139.9 million from RM167.63 million a year ago.

George Kent has announced a dividend of 2 sen per share for the interim period, same with last year’s.

Commenting on its financial results, Chairman Tan Sri Datuk Tan Kay Hock said George Kent is continuing its efforts to improve efficiencies and reduce production and operation costs in all areas.

“We have continued to invest and build our skills and technical competence, to ensure that we maintain our competitive edge. We will intensify our efforts to increase our current order book, which will contribute to our future earnings,” said Tan.

George Kent shares remained unchanged at RM1.59 today, with 873,000 shares changed hands. The company is principally involved in distributing water metering products and construction projects. It has a market capitalisation of RM477.65 million.