PETALING JAYA: HSS Engineers Bhd
has announced a record-high order book of RM2.1bil and says it is continuing to expand its overseas presence with key infrastructure projects in Iraq, Cambodia, Indonesia, the Philippines, and Bangladesh.
The engineering and project-management group said it aims to grow its revenue from overseas ventures to 25% of total revenue by 2027.
For its third quarter ended Sept 30, (3Q24), HSS Engineers posted a net profit of RM7.23mil, up from RM5.17mil in the year-ago quarter.
The result translates to earnings per share of 1.43 sen against 1.04 sen previously.
The group reported revenue of RM50.37mil in 3Q24, up from RM47.38mil in the year-ago quarter, mainly on the back of its 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.
In a statement on its results, the group said it had also secured its first project in Sarawak via its subsidiary HSS Alliance Sarawak Sdn Bhd in Serian, for the upgrading of a 4km stretch of road.
“This milestone marks an important step in our strategic growth within Sarawak, laying a solid foundation for future collaborations with the Sarawak Public Works Department and other state development bodies,” the group said.
