Sunway Construction”s pre-tax profit falls to RM37.52 million in Q1

Sunway Construction''s pre-tax profit falls to RM37.52 million in Q1

KUALA LUMPUR, May 26 — Sunway Construction Group Bhd reported a lower pre-tax profit of RM37.52 million for the first quarter ended March 31, 2016 from RM39.62 million recorded in the same period last year.

Revenue fell to RM424.35 million from RM496.07 million previously, it said in a filing to Bursa Malaysia Thursday.

The company attributed the decline to the lower revenue generated from the construction segment.

“It was also due to lower billings from civil and building projects as some of them had reached or were near their completion stage,” it said.

Moving forward, the company expected its order book value to improve further if it secures more mega infrastructure projects such as the Pan Borneo Highway Project in Sabah, Light Rail Transit Line 3, Damansara-Shah Alam Elevated Expressway and Sungai Besi-Ulu Kelang Elevated Expressway.