HSS Engineers executive vice-chairman Tan Sri Kunasingam V Sittampalam
KUALA LUMPUR: HSS Engineers Bhd
has announced a record-high order book of RM2.1bil as continued to expand its overseas presence with key infrastructure projects in Iraq, Cambodia, Indonesia, the Philippines, and Bangladesh.
The group said it aims to grow its revenue from overseas ventures to 25% of its total revenue by 2027.
In the third quarter ended Sept 30, 2024, HSS Engineers posted a net profit of RM7.23mil, up from RM5.17mil in the year-ago quarter, which translates to an earnings per share of 1.43 sen against 1.04 sen previously.
The group reported revenue of RM50.37mil in 3QFY24, up from RM47.38mil in the year-ago quarter, mainly on the back of the project management consultancy segment, which recognised revenue from the Baghdad Metro project in Iraq.
For the nine-month period, the group's net profit was RM14.48mil, on a par with a net profit of RM14.7mil in the same period in 2023.
Revenue was slightly lower at RM141.57mil against RM142.09mil in the year-ago period.
According to HSS Engineers, it is currently actively tendering for RM483mil worth of projects across various sectors while strategically diversifying its portfolio for additional growth avenues.
