Sapura Resources Q3 earnings drop
KUALA LUMPUR: Lower contributions from the aviation and property segments have slightly dampened Sapura Resources Bhd’s earnings for the third quarter of its financial year 2018.
Revenue for the quarter slipped five per cent to RM12.6 million from RM13.2 million previously, mainly due to lower revenue in the aviation segment.
Profit attributable to owners of parent dropped to a loss of RM800,00, from a profit of RM400,00, mainly due to lower share of result from an associate of RM700,000 and higher tax of RM300,000.
For the nine-month period, Sapura Resources’ revenue decreased seven per cent to RM35.8 million from RM38.4 million previously.
Profit attributable to owners of parent dropped to a loss of RM4.3 million, from RM1.4 million previously, mainly due to lower share of result from an associate of RM2.4 million.
It said its prospects would be driven by two core businesses, namely property and aviation.
“Although the property market is softening, the company takes a long-term view on its property investments.
“On the aviation business, we will continue to review the portfolio to achieve a positive outlook for the group,” it said.
Sapura Resources said on October 29 its wholly-owned subsidiary, Mercu Sapura Sdn Bhd (MSSB), had entered into a joint venture (JV) and shareholders agreement with Dilog Training & Services Sdn Bhd.
The companies had agreed to regulate the relationship as shareholders of a JV company to collaborate on skills, expertise, experience and capabilities in the business of maintenance, repair and overhaul services for narrowbody commercial aircraft in Senai, Johor.