TRIplc 1Q net profit surges to RM6.16m on concession income

KUALA LUMPUR (Oct 26): TRIplc Bhd (pictured) net profit for the first quarter ended Aug 31, 2017 surged to RM6.16 million from RM1.58 million a year earlier, driven by two concessions' income of maintenance activities.

In a filing to Bursa Malaysia today, TRIplc said its revenue for the quarter jumped to RM22.38 million from RM10.87 million a year ago.

Earnings per share rose to 8.98 sen from 2.34 sen in the prior year.

Reviewing its performance, TRIplc said its concession revenue of RM11.74 million and RM10.55 million were mainly contributed by revenue recognition for UiTM Zone 1 Phase 3 (UiTM-ZIP3) and UiTM Phase 2 (UiTM-Z1P2), Puncak Alam campus project respectively.

It said other revenue recorded was RM90,000 generated from rental of a factory.

On its prospects, TRIplc said with the fixed monthly receivable and steady income from maintenance of project UiTM-ZIP2, coupled with the new concession agreement for project UiTM-ZIP3, these concessions would contribute positively to its earnings.

At the midday break today, TRIplc rose 3.85% or 8 sen to RM2.16 with 263,400 shares traded. — theedgemarkets.com

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