Thursday 28 Mar 2024
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KUALA LUMPUR (May 27): Taliworks Corporation Bhd saw its net profit risen over fourfold to RM15.03 million or 3.44 sen per share in the first quarter ended March 31, 2015 (1QFY15), as compared to RM3.75 million or 0.86 sen per share in the previous corresponding period, due to consolidation of Cerah Sama Sdn Bhd (CSSB) as a subsidiary, as well as higher contribution from both its construction and waste management segments.

In a filing with Bursa Malaysia, Taliworks (fundamental: 1.5; valuation: 2.4)’s revenue was up 28.3% at RM97.02 million in 1QFY15, as compared to RM75.6 million in the first quarter of financial year 2014 (1QFY14).

Taliworks said its consolidation of CSSB’s financial results from September of last year, when CSSB became a subsidiary of the company, had contributed significantly to Taliworks’ profit and revenue in 1QFY15.

The Cheras-Kajang highway had registered a marginal growth in average daily traffic of 0.2% at 134,361 vehicles per day, as compared with 1QFY14, contributing RM14.5 million to the group’s revenue in the current quarter.

Taliworks said increase in net profit in 1QFY15 was also due to the net reversal of provision for discounting on the back of improved collections expected from Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash).

Taliworks' shares closed 3 sen or 1.36% higher at RM2.23 today, for a market capitalisation of RM960.66 million.  

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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