Boilermech 1Q net profit rises 31% to RM6.46 million
Published:
Boilermech Holdings Bhd reported a 31% increase in net profit for the first quarter ended June 30, 2019, rising to RM6.46 million from RM4.93 million a year earlier. The growth was mainly driven by stronger project deliveries, particularly from major repair and refurbishment works.
In a filing to Bursa Malaysia this morning, Boilermech announced that quarterly revenue increased to RM60.79 million compared with RM54.34 million in the previous corresponding period.
Earnings per share improved to 1.25 sen, up from 0.96 sen previously. On its outlook, Boilermech noted that despite the challenging operating environment, the improved order book since the last financial year positions the group to remain cautiously optimistic about its financial performance for the rest of the year.