Kerjaya Prospek Posted Favourable FY2021 Revenue

The construction outfit today announced its results for the financial year ended 31 December 2021 (FY2021). The Group posted a 6.8% growth in profit after tax and minority interest (PATAMI) to RM97.0 million in FY2021.

The group recorded the increase in revenue by 14% in the fourth quarter ended 31 December 2021 (Q4FY2021) to RM283.7 million from RM248.9 million in Q4FY2020. the increment is in line with the improved top line, PATAMI rose by 8.6% to RM30.4 million from RM28.0 million previously.

The improved bottom line came on the back of a 19.0% increase in revenue to RM964.9 million from RM811.0 million in FY2020.

Kerjaya Prospek’s balance sheet remained healthy and solid with net cash of RM176.3 million and a current ratio of 4.2 times as at 31 December 2021.

“Despite multiple industry headwinds during the year such as the implementation of the full movement control order, supply chain disruptions and labour shortages, we still managed to post stronger results for FY2021. Even though the operating environment remains uncertain, we are optimistic on our outlook going forward, supported by our robust outstanding order book. We recently secured our
largest ever contract from a new client worth RM710.1 million, bringing our outstanding order book to RM4.1 billion. This provides earning visibility for the next 5 years. The project is the first transit-oriented development in Malaysia, and the contract win speaks volume of the market’s confidence in our ability to deliver high-quality developments,” Kerjaya chief executive officer and executive director, Tee Eng Tiong said.

Second interim dividend of 2.0 sen per share in respect of FY2021 is declared by the Board. The dividend shall be payable on 8 April 2022 to the shareholders on the register on 17 March 2022. A total dividend declared for FY2021 amounted to 3.5 sen per share (first interim dividend was 1.5 sen per share).

“As economic activities are picking up, we feel that it is timely for us to launch two new property development projects by the first half of 2022, namely Dutamas Development (Yakin Land) and Monterez Development, with gross development values of RM380 million and
RM250 million respectively,” he added.

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