OSK Holdings Bhd achieved a pre-tax profit of RM98.559 million on the back of a turnover of RM306.457 million for the first quarter ending March 31 from a pre-tax profit of RM127.655 million on the back of a turnover of RM324.961 million previously
In A Bursa Filing, it said that the Group achieved revenue of RM306.5 million for the first quarter ended 31 March 2022 (“1Q22”) compared with RM325.0 million and pre-tax profit of RM98.6 million compared with RM127.7 million in 1Q21.
Overall, Group’s revenue and pre-tax profit showed a decline from 1Q21. Lower revenue and pre-tax profit were recorded by the Property Segment whilst the other Segments showed improvement during the quarter under review.
It said that the high vaccination rate and the ability of the Government to contain the spread of COVID-19 have allowed more relaxation of SOPs including the reopening of international borders and all economic activities, transitioning the country to endemicity.
On the other hand, the COVID-19 pandemic has also brought about new challenges including the worsening supply chain disruptions, persistent labour shortages across all industries, and inflationary pressures that will lead to higher costs of doing business. The Group’s businesses were impacted by the foregoing to a certain extent. Measures are being put in place to manage the impact and will be closely monitored.
