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Quarterly Report For The Financial Period Ended 30 September 2018

Financials Archive

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Unaudited Condensed Consolidated Statement Of Comprehensive Income
For The 3rd Quarter Ended 30 September 2018

Comprehensive Income

Unaudited Condensed Consolidated Statement Of Financial Position
As At 30 September 2018

Financial Position

Review of Performance

In the current quarter under review, the Group achieved revenue of RM65.55 million and operating profit of RM12.08 million. For the year-to-date, the Group recorded revenue of RM182.49 million and operating profit of RM37.33 million. The revenue generated was mainly from construction segment which represented 66.45% and 60.91% of total revenue for the current year quarter and year-to-date respectively.

The Group reported a profit before taxation of RM9.69 million and RM21.68 million for the current quarter and year-to-date respectively. The Group mainly incur administrative expenses i.e. salaries and wages and depreciation expenses and finance costs mainly from Sukuk coupon and term loans.

For the current quarter and year-to-date, the Group had to charge a one-off reverse acquisition expenses of RM1.56 million and RM7.11 million respectively to its consolidated statement of profit or loss and other comprehensive income. If not due to these expenses, the Group will record a profit before taxation of RM11.25 million and RM28.79 million for current period and year-to-date respectively.

For the quarter under review, the Group's revenue increased by 9% to RM13.62 million from RM12.54 million in the preceding financial year corresponding quarter.

No comparison of the current financial quarter's result can be made with that of the preceding financial year's corresponding quarter due to the Reverse Acquisition as explained in Note A2.1 to these interim financial statements.

Comparison to the Results of the preceding quarter

No comparison of the current financial quarter's result can be made with that of the preceding financial year's corresponding quarter due to the Reverse Acquisition as explained in Note A2.1 to these interim financial statements..

Prospects

The Group is optimistic of delivering commendable performance in the current financial year ending 31 December 2018 as it continues to implement its ongoing projects. Additionally, the Group secured several new projects worth RM93 million, including Project Perumahan Penjawat Awam 1 Malaysia with a final sum value of RM71 million, and is also actively participating in tenders from the public and private sectors.