WZ Satu’s Q4 results boosted by core segments

PETALING JAYA: WZ Satu Bhd’s net profit for the fourth quarter ended Aug 31, 2016 rose 48% to RM7.93 million from RM5.37 million a year ago due mainly to improved results recorded by the civil engineering and construction and oil and gas segments.

The group generated a revenue of RM123.59 million in the current quarter, an increase of 9% compared to RM112.99 million in the preceding year corresponding quarter, mainly attributed to the increase in civil engineering and construction segment revenue.

For the full year, net profit jumped 11% to RM22.91 million from RM20.73 million a year ago, mainly attributed to improved performance in the civil engineering and construction segment.

The group’s revenue increased by 33% to RM465.92 million for the current year-to-date compared with RM351.42 million in the preceding year corresponding year-to-date, mainly contributed by the civil engineering and construction segment.

WZ Satu said its key business segments of the group are civil engineering and construction, oil and gas, manufacturing and bauxite mining.

“For civil engineering and construction segment, the group not only accumulated an order book to last for the next two to three years, the group is also confident that its order book will grow beyond the run-off rate. The outlook of this sector is promising with the group benefiting from government expenditure in infrastructure,” it added.