Tali­works earn­ings in Q3 nearly dou­ble

The Sun (Malaysia) - - SUNBIZ -

PETAL­ING JAYA: In­fra­struc­ture com­pany Tali­works Corp Bhd’s net profit in the third quar­ter ended Sep 30, 2016 (Q3FY16) al­most dou­bled to RM19.5 mil­lion, from RM10.8 mil­lion in the cor­re­spond­ing pe­riod last year.

Rev­enue grew 13.6% to RM83.8 mil­lion from RM73.7 mil­lion in the pre­vi­ous cor­re­spond­ing quar­ter.

In a state­ment yes­ter­day, Tali­works said the higher profit was mainly due to higher me­tered sales from its wa­ter busi­ness, toll com­pen­sa­tion (Cheras-Ka­jang High­way) from the gov­ern­ment due to a de­lay in toll in­crease, higher in­come de­rived from man­age­ment fees and un­re­alised for­eign ex­change gain.

For the nine months pe­riod, its net profit al­most tripled to RM95.5 mil­lion, from RM35.3 mil­lion a year ago, while rev­enue was up 8.2% to RM235.8 from RM217.9 mil­lion pre­vi­ously.

Ac­cord­ingly, the group’s ba­sic earn­ings per share rose to 1.61 sen, from 0.98 sen in the same pe­riod last year.

In a fil­ing with Bursa Malaysia yes­ter­day, the group said it ex­pects the Sun­gai Se­lan­gor Wa­ter Treat­ment Works Phase 1 op­er­a­tion, which is the main con­trib­u­tor to the group, to con­tinue to run pro­duc­tion above its de­sign ca­pac­ity of 950 mil­lion litres per day due to con­tin­u­ous in­crease in de­mand for treated wa­ter in the Klang Val­ley.

The group has de­clared a third sin­gle-tier div­i­dend of 2 sen per share on 1.21 bil­lion or­di­nary shares of 20 sen each, amount­ing to about RM24.2 mil­lion. To date, to­tal div­i­dend de­clared for the fi­nan­cial year end­ing Dec 31, 2016 is RM72.6 mil­lion.

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