KNM’S THIRD QUARTER NET PROFIT HALVES TO RM1.12M

PETALING JAYA: KNM Group Bhd’s net profit for the third quarter ended Sept 30, 2016 fell 52.7% to RM1.12 million from RM2.36 million a year ago due to lower contract revenue. Its revenue dropped 10.4% to RM410.65 million compared with RM458.18 million last year. For the nine months period, its net profit fell 57% to RM18.70 million from RM43.52 million a year ago mainly due to recognition of a one-off gain arising from the disposal of Australian operations in the corresponding period last year and loss incurred in the Americas segment for the current period.