PETALING JAYA: George Kent (Malaysia) Bhd’s (GKent) net profit declined 28.3% to RM20.55 million for the third quarter ended October 31, 2018 against RM28.68 million in the previous corresponding period, dragged by lower contribution from its engineering and metering segments.
Its revenue fell 18.5% to RM103.55 million from RM127.09 million.
The group has proposed to declare an interim dividend of 1.5 sen per share for the quarter under review, payable on Jan 9, 2019.
For the first nine months of the year, GKent’s net profit droppd 8.1% to RM66.67 million from RM72.55 million, while revenue went down 28.8% to RM316.25 million from RM444.08 million.
Looking ahead, GKent said the group’s strong order book will provide earnings visibility over the next few years.
“The group is also on the lookout for opportunities in the regional railway space, leveraging on its expertise as rail systems specialist in domestic railway projects.”
GKent chairman Tan Sri Tan Kay Hock said the group remains steadfast in implementing its strategic plan to broaden the income base, including substantial investment of resources, both human and financial, into growing its metering and other water-related businesses and investments.
On Bursa Malaysia today, GKent gained 7.5 sen or 9.9% to close at 83 sen on 5.11 million shares done.
