George Kent’s 1QFY18 results boast strong improvements
KUCHING: The recently released George Kent Malaysia Bhd ( George Kent) first quarter financial year 2018 ( 1QFY18) results are boasting strong improvements.
The results were released on Bursa Malaysia last Thursday and shows a 5.2 per cent year over year ( y- o-y) improvement in its revenue to RM129.4 million; 23.2 per cent y- o-y improvement in profit before tax to RM25.0 million; and 23.3 per cent y- o-y improvement in profit after tax to RM18.5 million.
According to a market update by the research arm of Public Investment Bank Bhd ( PublicInvest Research), the higher figures were mainly due to improvement in the group’s construction and watermeter units.
“George Kent undertakes its construction and water-meter businesses under its engineering and metering divisions respectively,” said the research arm.
Commenting on the strong set of results, George Kent’s chairman Tan Sri Dato’ Tan Kay Hock said, “These strong results set the foundation from the company to achieve another record year.
“We will continue to grow our already strong order book and deliver the projects in hand towards meeting our customers’ expectations and continue to improve shareholders’ value.
“The board is optimistic of FY18 as our strong order book provides sustainable earnings visibility going forward.”
The company was previously quoted to have said its total order book has grown to a total of RM6.1 billion and that it was secured a major contract for the supply of water meters in 1QFY18.