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Wednesday, November 26, 2014

KNM 3Q net profit jumps 60.1% to RM16.44 million

Source: http://www.theedgemarkets.com/en/node/171678

KUALA LUMPUR (Nov 26): KNM Group Bhd net profit for the third quarter ended Sept 30, 2014 jumped 60.1% to RM16.44 million from RM6.32 million a year earlier despite posting a lower revenue of RM430.68 million compared to RM487.59 million a year earlier.

In a filing Wednesday, KNM attributed the higher net profit to better margin contribution and lower operating cost.

Earnings per share rose to 1.07 sen from 0.43 sen previously.

For the nine months ended Sept 30, KNM’s net profit rose to RM41.73 million from RM15.94 million on the back of revenue RM1.41 million, which remained almost flat year-on-year.

KNM did not declare any dividend.

On its prospects, KNM said the Asia and Oceanic segment was expected to improve its order book with the contribution from PIC project.

“The European segment profitability is expected to continue with its stable order book.

“The profitability of the Americas segment will continue to grow with improved order book which has been secured,” it said.

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