WZ Satu’s Q4 re­sults boosted by core seg­ments

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: WZ Satu Bhd’s net profit for the fourth quar­ter ended Aug 31, 2016 rose 48% to RM7.93 mil­lion from RM5.37 mil­lion a year ago due mainly to im­proved re­sults recorded by the civil en­gi­neer­ing and con­struc­tion and oil and gas seg­ments.

The group gen­er­ated a rev­enue of RM123.59 mil­lion in the cur­rent quar­ter, an in­crease of 9% com­pared to RM112.99 mil­lion in the pre­ced­ing year cor­re­spond­ing quar­ter, mainly at­trib­uted to the in­crease in civil en­gi­neer­ing and con­struc­tion seg­ment rev­enue.

For the full year, net profit jumped 11% to RM22.91 mil­lion from RM20.73 mil­lion a year ago, mainly at­trib­uted to im­proved per­for­mance in the civil en­gi­neer­ing and con­struc­tion seg­ment.

The group’s rev­enue in­creased by 33% to RM465.92 mil­lion for the cur­rent yearto-date com­pared with RM351.42 mil­lion in the pre­ced­ing year cor­re­spond­ing year-to-date, mainly contributed by the civil en­gi­neer­ing and con­struc­tion seg­ment.

WZ Satu said its key busi­ness seg­ments of the group are civil en­gi­neer­ing and con­struc­tion, oil and gas, man­u­fac­tur­ing and baux­ite min­ing.

“For civil en­gi­neer­ing and con­struc­tion seg­ment, the group not only ac­cu­mu­lated an or­der book to last for the next two to three years, the group is also con­fi­dent that its or­der book will grow beyond the run-off rate. The out­look of this sec­tor is promis­ing with the group ben­e­fit­ing from govern­ment ex­pen­di­ture in in­fra­struc­ture,” it added.

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