TRC Synergy Q1 net profit declines

KUALA LUMPUR: TRC Synergy Bhd’s net profit for the first quarter ended March 31 declined to RM1.34mil from RM5.9mil in the same quarter last year on the back of revenues also dipping to RM94.72mil from RM100.55mil respectively.

The company said in an announcement to Bursa Malaysia that it recorded a profit before tax of RM3.93mil in the current quarter as compared with RM7.92mil in the corresponding quarter.

“Lower profit reported in the current quarter is due to lower revenue recognised in the quarter and higher administrative expenses incurred by the group,” it said.

TRC Synergy’s business is principally in construction, manufacturing of construction materials and property development.

Moving forward, TRC Synergy anticipates a better performance in the current financial year with the expected positive contribution from the new and ongoing projects which are currently being undertaken by it.

These projects include the RM36mil renovation works of Kompleks Dayabumi (phase 2), the mass rapid transit’s Sungai Buloh maintenance depot, administration building construction of RM458.98mil, and the RM950mil facilities works (package A) for the Kelana Jaya line extension project.