HSS Engineers net profit falls in Q2

PETALING JAYA: HSS Engineers Bhd's net profit dropped 9.9% to RM2.97 million for the second quarter ended June 30, 2017 versus RM3.3 million in the previous corresponding period, dragged down by higher direct cost and operating expenses.
Its revenue rose 12.7% from RM33.61 million to RM37.87 million.
HSS'unbilled order book as at June 30, 2017 amounted to RM358 million, which will be billed progressively on average over the next two to five years.
The group expects to perform satisfactorily in the financial year 2017 given the strong order book, underpinned by the positive outlook in the construction industry both locally and regionally, driven largely by government continued spending on infrastructure projects.
"Barring any unforeseen circumstances, the board of directors of the company is of the opinion that the prospects for the remaining period to the end of the financial year ending Dec 31, 2017 will remain favourable," it noted.
For the first half of the year, HSS Engineers' net profit was up by 17.4% from RM5.22 million to RM6.13 million on the back of a 2% increase in revenue from RM65.83 million to RM67.13 million.
The stock rose four sen to close at RM1.03, with some 11.07 million shares changing hands. It has a market capitalisation of RM328.65 million.