Des­tini’s third quar­ter net profit down 30%

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: In­te­grated en­gi­neer­ing so­lu­tions provider Des­tini Bhd’s net profit in the third quar­ter ended Sept 30, 2016 (Q3FY16) fell 30.3% to RM4.95 mil­lion, from RM7.1 mil­lion in the cor­re­spond­ing pe­riod last year.

Rev­enue dropped 46.2% to RM48.62 mil­lion from RM90.34 mil­lion in the pre­vi­ous year’s third quar­ter.

For the nine months pe­riod this year, the group’s net profit surged 82% to RM21 mil­lion from RM11.6 mil­lion a year ago, while rev­enue jumped 33% to RM239 mil­lion from RM179.2 mil­lion in the pre­vi­ous year, driven mainly by its marine man­u­fac­tur­ing ser­vices.

Con­cur­rently, the group’s pro­vi­sion of main­te­nance, re­pair and over­haul ser­vices to the de­fence avi­a­tion sec­tor re­mains a sig­nif­i­cant re­cur­ring in­come con­trib­u­tor, Des­tini said in a state­ment yes­ter­day.

Des­tini group manag­ing di­rec­tor Datuk Roz­abil Ab­dul Rah­man said de­spite op­er­at­ing in a chal­leng­ing global eco­nomic en­vi­ron­ment, the group con­tin­ues to re­port growth in its fi­nan­cial per­for­mance.

He said hav­ing a di­ver­si­fied in­come base across sev­eral in­dus­tries has helped the group to mit­i­gate the down­cy­cle trend in cer­tain in­dus­tries and bol­ster its over­all fi­nan­cials.

Roz­abil said the group is op­ti­mistic of se­cur­ing more jobs from the marine sec­tor, as it sees a lu­cra­tive fu­ture in the ship­build­ing busi­ness.

“While we con­tinue to in­vest to grow our com­mer­cial avi­a­tion busi­ness, our land trans­port divi­sion is on tar­get to de­liver the first seven units of mo­tor trol­leys to Kere­tapi Tanah Me­layu Bhd in the first quar­ter of next year.

“There are 35 units of mo­tor trol­leys to be de­liv­ered over five tranches. Mean­while, in our oil and gas busi­ness, we are still bid­ding for more jobs and we are hope­ful of a pos­i­tive out­come soon.”

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