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Tuesday, May 27, 2014

Ahmad Zaki 1Q profit up 80% on construction, revenue higher at RM154m (Edge)

Ahmad Zaki Resources Bhd's net profit rose 80% to RM4.5 milion in the first quarter ended March 31, 2014 from RM2.5 million a year earlier.

Profit growth came mainly on higher-margin construction projects.

In a statement to the exchange today, Ahmad Zaki said revenue was also higher at RM153.8 million versus RM140.2 million.

"The group’s construction division expects to perform better as the remaining order book balance remains strong and the prospects for enhancement of the order book is encouraging.

"Moving forward, the oil and gas division continues to be robust with steady flow of income to the group," it said.

The group also looks forward to positive development from its plantation division.

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