Search Articles

Find tips, tools and how-to guides on every aspect of property

Ekovest''s Q3 Pre-tax Profit Rises To RM43.87 Million


Ekovest''s Q3 Pre-tax Profit Rises To RM43.87 Million

KUALA LUMPUR, May 31: Ekovest Bhd’s pre-tax profit in the third quarter ended March 31, 2017 rose to RM43.87 million from RM16.53 million in the same period in 2016.

In a filing to Bursa Malaysia yesterday, Ekovest said revenue increased to RM291.75 million from RM184.76 million previously.

“The increase in the pre-tax profit and revenue for the reporting period was mainly due to the commencement of preliminary and construction work for the Setiawangsa-Pantai Expressway (SPE).

“Higher sales recognition for EkoCheras project coupled with advanced progress work also contributed to the higher revenue from the property development segment,” said the company.

On prospects, the company expected that ongoing construction of the Duta Ulu-Klang Expressway Phase-2 and SPE, toll revenue and the recognition of unbilled sales from the property development activities to contribute positively to the company’s turnover and profitability in the current financial year.

“Barring any unforeseen circumstances, the board is confident that the company’s performance would be much better for the financial year ending June 30, 2017 compared with the previous financial year,” it said.

Disclaimer: The information is provided for general information only. Malaysia Sdn Bhd makes no representations or warranties in relation to the information, including but not limited to any representation or warranty as to the fitness for any particular purpose of the information to the fullest extent permitted by law. While every effort has been made to ensure that the information provided in this article is accurate, reliable, and complete as of the time of writing, the information provided in this article should not be relied upon to make any financial, investment, real estate or legal decisions. Additionally, the information should not substitute advice from a trained professional who can take into account your personal facts and circumstances, and we accept no liability if you use the information to form decisions.

More Articles