The Construction outfit, in its official statement, has reported its highest ever quarterly revenue of RM300.6 million for its first quarter ended 31 March 2022 (1QFYE2022). The 11.9% top line growth from RM268.7 million a year ago was achieved on the back of higher progress billings from its construction activities in the quarter under review.
The higher revenue coupled with lower operating expenses recorded in 1QFYE2022 resulted in the profit after tax and minority interests (PATAMI) improving by 9.4%, year on year, to RM28.9 million from RM26.4 million previously.
The balance sheet remained healthy and strong with a net cash position of RM197.3 million and a current ratio of 3.8 times as at 31 March 2022.
“Despite the challenging operational environment plagued by the trickle-down effects of the Russia-Ukraine conflict and supply-chain disruptions, we kickstarted the financial year on a high note,” Kerjaya chief executive officer and executive director Tee Eng Tiong commented.
“This new high speaks volume of our strong track record in delivering results and ability to win contracts to bolster the Group’s earnings visibility. Evidently, we secured three contracts worth a total of over RM1 billion since the beginning of the year, which strengthened our outstanding order book to RM4.4 billion, sustaining our earnings over the next five years.”
“Besides that, we are targeting to launch two new property development projects, namely Dutamas Development (Yakin Land) and Monterez Development, with a total gross development value of RM730 million, in the second half of 2022. Going forward, we expect the property development division to contribute a sizeable portion to our bottomline.”
Second interim dividend of 2.0 sen per share has been declared by the group in respect of the financial year ending 31 Dec 2022, which will be paid on 8 July 2022 to the shareholders on the register on 13 June 2022.
