Crest Builder Starts The Year In Profitable Mood

Crest Builder Holdings Berhad announced its first quarter results for the financial year registering a profit after tax of RM0.7 million, marking a significant improvement from the RM26.4 million loss incurred in Q4FYE2023.

The group said the performance was mainly due to high progress in construction recognised for construction projects. The construction segment continues to be the main revenue driver for the Group, where it accounted for RM103.7 million, or 96.0% of Q1FYE2024 revenue.

In comparison with preceding year’s corresponding period (“Q1FYE2023”), the 70.9% surge in profit after tax to RM0.7 million was on the back of a 14.4% increase in revenue to RM107.9 million.

The outstanding construction order book is at an all-time high of RM1.9 billion with total property development unbilled sales of RM250.0 million.

Commenting on the financial performance, CBHB managing director Eric Yong Shang Ming said, “We are delighted to announce commendable first quarter results as we start off a new year, returning to black after a few red quarters. We are confident that our numbers can only get better from hereon, riding on a record order book and anticipating much higher revenue going forward. We also look forward to better margins and bottom line, from the strong sales recorded at our mixed development property project, The Interpoint.”

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