Taliworks shares fall as earnings drop

PETALING JAYA: Taliworks Corp Bhd, which suffered a 49% drop in earnings for the third quarter ended Sept 30, 2017, saw its share price fall 0.94% this morning.
At 11.06am, its share price fell 1 sen or 0.94% to RM1.06 with a total of 343,400 shares traded. The group slipped 3 sen or 2.73% to RM1.07 with 530,300 shares done yesterday.
Taliworks posted a 49% drop in its earnings to RM9.95 million for the third quarter ended Sept 30, 2017, against RM19.5 million in the previous corresponding quarter.
Revenue for the quarter declined 11.3% to RM74.3 million compared with RM83.8 million in the same period last year, mainly due to lower contribution from the construction and toll business.
For the nine months period its net profit slumped 76.3% to RM22.6 million, from RM95.5 million a year ago, while revenue was slightly higher by 0.5% to RM236.9 million from RM235.8 million previously.