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Kerjaya Prospek’s 3Q earnings up 23.5% on improved progress in construction activities

KUALA LUMPUR (Nov 21): Kerjaya Prospek Group Bhd recorded a net profit of RM35.57 million for the third quarter ended Sept 30, 2023 (3QFY2023), up 23.5% from RM28.81 million for the same quarter a year ago, mainly due to improved progress of construction work activities.
The builder declared an interim dividend of two sen, with an ex-date on Dec 14 this year, according to its statement on Tuesday.
Revenue rose 39.6% to RM362.2 million for 3QFY2023 from RM259.4 million a year ago, with the construction segment remaining as the main contributor. 
For the first nine months of FY2023 (9MFY2023), Kerjaya Prospek’s net profit rose 12% to RM96.55 million, from RM86.20 million in the previous corresponding period, while revenue increased by 15.8% to RM968.75 million, from RM836.91 million.
Chairman Datuk Tee Eng Ho said that after Kerjaya Prospek’s RM404.35 million job from EcoFirst Consolidated Bhd’s unit to build a main residential building had fallen through, the group’s current outstanding order book stood at about RM4.3 billion, while total job replenishment year-to-date amounted to about RM1.2 billion, still meeting the management’s target for this year.
“Despite the minor headwind faced by the construction industry due to the spiking price of cement, we have absolute confidence in our ability, track record and expertise to continue executing our ongoing projects, and [we] eventually improved our margins and earnings,” he said in a results briefing on Tuesday.
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Source: EdgeProp.my

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