MRCB net profit up 39% at RM33.45mil in second quarter
PETALING JAYA: Malaysian Resources Corp Bhd’s (MRCB) net profit for its second quarter ended June 30, 2018 rose 39% to RM33.45mil from RM24.05mil in the previous corresponding period.
The results were boosted by improved contributions from its engineering, construction and environment division.
In a filing with Bursa Malaysia, the construction and property development company said earnings were also bolstered by the fact that there were no operating losses recorded from the cessation of the Eastern Dispersal Link’s toll collection.
Revenue in the second quarter dropped to RM405.25mil from RM725.27mil a year earlier.
For the six-month period ended June 30, 2018, the company’s net profit increased to RM54.98mil from RM32.69mil, while revenue dropped to RM832.85mil from RM1.25bil a year earlier.
It said the main revenue contributors in the first half of 2018 were the group’s ongoing property development.
These include 9 Seputeh in Jalan Klang Lama, PJ Sentral Garden City, Sentral Suites and Kalista Park Homes, as well as the sales of completed units at Sentral Residences, Q Sentral and Easton Burwood.
Unbilled property sales at the end of the first half of 2018 totalled RM1.7bil.