Samaiden 1Q earnings climb 18%

PETALING JAYA: Samaiden Group Bhd’s net profit jumped 18% to Rm2.44mil in the first quarter ended Sept 30 (1Q), against Rm2.07mil a year ago.

The improved performance was mainly due to an increase in the number of projects and their contract sum for the current financial period.

Its revenue grew 71.82% to Rm40.77mil compared with Rm23.73mil posted last year.

The renewable energy specialist, in a statement, said engineering, procurement, construction, and commissioning services contributed to approximately 99.63% of Samaiden’s revenue in 1Q.