For the current financial quarter, Oriental Interest recorded revenue of RM179.39 million and profit before tax (“PBT”) of RM36.11 million, representing decreases of 41% and 57% respectively, compared with the corresponding quarter of the preceding year. Meanwhile profit after tax halved to RM28 million from RM58 million a year during the same period.
As for the three quarter accumulated results, revenue and PBT was at RM501.12 million and RM106.89 million respectively, representing decreases of 20% and 27% compared with the corresponding period of the preceding year. PAT was at a low of RM81 million compared to RM103 million.
The lower revenue and PBT for both the current quarter and the financial period to date were mainly attributable to lower progress billings from the Property Development segment.
However, the group said PBT from the General Construction segment increased despite revenue remained unchanged for the current quarter, mainly due to improved project margins and effective cost management.
