Sun­way’s third quar­ter earn­ings up 7.72%

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Sun­way Bhd’s net profit for the third quar­ter ended Sept 30, 2016 rose 7.72% to RM143.61 mil­lion from RM133.31 mil­lion a year ago due to bet­ter per­for­mance across all ma­jor di­vi­sions ex­cept for the quarry di­vi­sion.

In a fil­ing with Bursa Malaysia last Fri­day, the group said its quarry di­vi­sion reg­is­tered a lower profit of RM6.7 mil­lion dur­ing the quar­ter com­pared with RM10.4 mil­lion a year ago. Rev­enue was also lower at RM54 mil­lion com­pared with RM66.8 mil­lion a year ago.

“The lower per­for­mance in the cur­rent quar­ter was mainly due to a drop in sell­ing prices for both ag­gre­gates and pre­mix,” it said.

Rev­enue for the quar­ter rose 19.60% to RM1.14 bil­lion from RM951.04 mil­lion a year ago mainly due to the lower elim­i­na­tion of in­tra-group con­struc­tion rev­enue and ad­di­tional con­tri­bu­tion from the Win­star group of com­pa­nies un­der the trad­ing and man­u­fac­tur­ing seg­ment.

“In view of the un­cer­tain eco­nomic out­look, the group will con­tinue to adopt a cau­tious busi­ness strat­egy. How­ever, given the group’s diver­si­fied busi­ness port­fo­lio, it is well po­si­tioned to meet the chal­lenges ahead. Bar­ring any un­fore­seen cir­cum­stances, the group’s per­for­mance for the fourth quar­ter is ex­pected to re­main sat­is­fac­tory,” it said.

For the nine months ended Sept 30, 2016, net profit fell 22.73% to RM400.07 mil­lion from RM517.76 mil­lion a year ago while rev­enue rose 10.14% to RM3.36 bil­lion from RM3.05 bil­lion a year ago.

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