Cypark sees higher earnings in Q2

PETALING JAYA: Cypark Resources Bhd saw its net profit for the second quarter ended April 30, 2018 rise 61.5% to RM18.75 million compared with the RM11.61 million registered in the previous year's corresponding quarter, due to the absence of the employers share option scheme expenses.
Revenue rose 18.1% to RM99.08 million from RM83.93 million in the same quarter last year, driven by the environmental engineering
division and landscaping & infrastructure division.
For the period of six months, the group's net profit rose 35.1% to RM31.01 million from RM22.95 million, while revenue grew 12.7% to RM183.1 million from RM162.41 million.
Looking ahead, Cypark foresees a continued boost in its financial performance and it will focus on managing cost and investment, optimising manpower and operation, and increasing productivity and efficacy in the next phase of the business transformation.
"Cypark will continue to enhance its resources in research and development for continuous innovations and creativity as a solution provider in environmental engineering, green technology, and renewable energy."
Its shares edged up 4 sen or 1.8% to close at RM2.29 on 77,500 shares changing hands.