Ahmad Zaki Resources Bhd (AZRB) saw its net profit fall 24% to RM3.42 million or 0.7 sen per share for the first quarter ended March 31, 2015 (1QFY15), from RM4.48 million or 1.62 sen per share in the corresponding quarter last year (1QFY14).
Revenue for the quarter was marginally lower at RM153.06 million, down 0.5% to RM153.79 million in the previous year.
In its filing with the bourse, AZRB (fundamental: 0.35; valuation: 1.1) attributed its 1QFY15 performance to a decrease in other operating income and an increase in finance cost compared to 1QFY14.
According to its financial statements, the group saw other operating income of RM1.92 million for the quarter, less than half of the income in the previous year of RM4.07 million, while finance costs rose to RM7.89 million from RM5.02 million.
Its construction and oil and gas (O&G) segments saw lower revenues for the quarter at RM136.96 million and RM8.06 million respectively, while its plantation division saw improved revenue of RM1.62 million.
Going forward, the group expects its construction division to perform better, based on its strong order book, adding that prospects to enhance its order book is encouraging.
The group said its construction order book stood at approximately RM3.39 billion as at 1QFY15, with its Phase 1 — East Klang Valley Expressway project making up the bulk of its outstanding contracts, worth RM1.54 billion.
Other projects include the construction of a 56-storey hotel tower for Permodalan Nasional Bhd (RM628 million), the viaduct guideway construction for the Klang Valley Mass Rapid Transit project (RM227 million) and the proposed development of International Islamic University Malaysia Teaching Hospital in Kuantan (RM138 million).
Meanwhile, its O&G division is expected to continue contributing a steady flow of income to the group, while its plantation division is also expected to improve.
At 12.30pm, AZRB rose 0.5 sen or 0.71% to 70.5 sen, with a market capitalisation of RM337.44 million.
Revenue for the quarter was marginally lower at RM153.06 million, down 0.5% to RM153.79 million in the previous year.
In its filing with the bourse, AZRB (fundamental: 0.35; valuation: 1.1) attributed its 1QFY15 performance to a decrease in other operating income and an increase in finance cost compared to 1QFY14.
According to its financial statements, the group saw other operating income of RM1.92 million for the quarter, less than half of the income in the previous year of RM4.07 million, while finance costs rose to RM7.89 million from RM5.02 million.
Its construction and oil and gas (O&G) segments saw lower revenues for the quarter at RM136.96 million and RM8.06 million respectively, while its plantation division saw improved revenue of RM1.62 million.
Going forward, the group expects its construction division to perform better, based on its strong order book, adding that prospects to enhance its order book is encouraging.
The group said its construction order book stood at approximately RM3.39 billion as at 1QFY15, with its Phase 1 — East Klang Valley Expressway project making up the bulk of its outstanding contracts, worth RM1.54 billion.
Other projects include the construction of a 56-storey hotel tower for Permodalan Nasional Bhd (RM628 million), the viaduct guideway construction for the Klang Valley Mass Rapid Transit project (RM227 million) and the proposed development of International Islamic University Malaysia Teaching Hospital in Kuantan (RM138 million).
Meanwhile, its O&G division is expected to continue contributing a steady flow of income to the group, while its plantation division is also expected to improve.
At 12.30pm, AZRB rose 0.5 sen or 0.71% to 70.5 sen, with a market capitalisation of RM337.44 million.
1 comment:
what an accurate predictions! It's a pity the calculations are not an abiding thing((
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