The full-fledged integrated construction engineering group has expressed its optimism as the economic recovery is gaining momentum as we progress towards endemicity, which is certainly good news for us and the sector.
The Managing Director of Vizione, Dato’ Ng Aun Hooi was quoted as saying this after the conclusion of its 23rd Annual General Meeting today.
“On a brighter note, the economic recovery is gaining momentum as we progress towards endemicity, which is certainly good news for us and the sector. In tandem, we are also seeing signs that more jobs are being awarded. To recap, the Group had recently in April 2022 secured a sizeable RM654.0 million contract for Pertubuhan Keselamatan Sosial (PERKESO) National Robotics and Cybernetics Rehabilitation Center in Perak. On that, we are currently preparing for the groundbreaking ceremony which will be held soon,” he said.
“This latest win brings our outstanding order book to more than RM3.0 billion, giving us clear earnings visibility for the coming few years. Vizione is now focused on the timely execution of our order book.”
“Granted, we are mindful of the ongoing challenges such as supply chain disruptions, higher raw materials and commodity prices that are affecting the whole construction sector. With regards to rising raw material costs, we are proactively managing it by continuously enhancing our operational efficiency and procurement process. All in all, the outlook of the Group is positive premised upon the aforementioned factors and strive to deliver improved performance in FY22,” he concluded.
To recap, the Group recorded a commendable performance for its first quarter ended 28 February 2022 (1QFY22). 1QFY22 revenue rose 22.0% YoY to RM77.9 million as the progress of its ongoing construction projects pick up pace. Meanwhile, 1QFY22 profit after tax and non-controlling interest (PATNCI / net profit ) came in at RM3.1 million versus a RM1.0 a year ago following higher operational efficiency attained especially for its construction division.
