KUALA LUMPUR: Ingenieur Gudang Bhd’s construction division will pursue new contracts and ensure timely project completion.
The group’s property investment division also aims to improve tenancy levels for stable rental income and better yields.
“Our construction division will continue to bid for new contracts to improve our order book and revenue, as well as focusing on execution of the projects to ensure timely completion and delivery for current on-going projects,” it said in the note accompanying its financial results.
“We expect our property investment division to achieve better tenancy levels to generate consistent rental income and better rental yield from our property portfolio,” Ingenieur said.
It will also to seek promising commercial and industrial real estate in strategic locations for good returns within a reasonable timeframe.
In the second quarter ended May 31, Ingenieur posted a net profit of RM6.48mil, or earnings per share of 0.43 sen compared with RM234,000, or 0.02 sen.
The higher profit was mainly due to the gain on disposal of assets held for sale coupled with an increase in revenue from the construction segment.
Revenue for the period rose to RM12.3mil from RM4.57mil achieved a year earlier mainly due to new projects secured as well as better progress recognition in the construction segment during the current financial period.
For the first six months to May 31, it posted a net profit of RM7.5mil, up 77% from RM4.23mil last year while revenue expanded 52.4% to RM19.7mil against RM12.9mil previously.
