The FY19 core earnings rose 12% year-on-year (yoy), lifted by higher revenue (+7% yoy) from: i) the environmental engineering (EE) division, due to the adoption of the Malaysian Financial Reporting Standards (MFRS) 15 and continuous progress of works for the new large scale solar (LSS) projects secured, and ii) the green tech & renewable energy (RE) division, due to specialist works performed.
KUALA LUMPUR: Cypark Resources’s FY10/19 core net profit was above expectations at 138% of CGS-CIMB Equities Research and 125% of Bloomberg consensus full-year forecasts.
The research house said on Tuesday the outperformance was due to lower-than-expected operating costs.
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