George Kent’s earnings up twofold to RM20.5m in second quarter

PETALING JAYA: George Kent (Malaysia) Bhd’s net profit jumped more than twofold to RM20.51 million for the second quarter ended July 31, 2016 against RM8.47 million in the previous corresponding period, driven by increased contributions from the its engineering and metering divisions.
Revenue for the quarter under review also expanded 43.7% from RM114.66 million to RM164.77 million.
The group has proposed an interim dividend of 3 sen per share.
In a filing with the stock exchange, George Kent said it is optimistic on its prospect for the rest of the year with a very strong order book and the good execution.
George Kent’s first-half net earnings surged 93.7% from RM18.34 million to RM35.52 million. Revenue was 65.75% higher at RM287.73 million compared with RM173.69 million in the same period a year ago.