Share
KUALA LUMPUR (Nov 27): Construction firm Kerjaya Prospek Group Bhd is eyeing an order book of RM1.2 billion for its financial year ending Dec 31, 3019 (FY19), 20% more than its RM1 billion target this year.
At a briefing here today, its executive chairman Datuk Tee Eng Ho said he views the market next year to remain challenging but believes the target is achievable given the group's strong balance sheet and good workmanship, which helps with a higher tender success rate.
According to Tee, as of today, Kerjaya Prospek's outstanding order book stands at RM2.8 billion with visibility for the next 2.5 years.
Its tender book value is currently in excess of RM1.5 billion, with several external jobs expected to be awarded next month to help boost Kerjaya Prospek's FY18 order book value towards its RM1 billion target.
The group's year-to-date contract wins amount to RM778.2 million, Tee added.
Yesterday, Kerjaya Prospek announced a net profit of RM36.88 million for its third quarter ended Sept 30, 2018, up 7.2% from RM34.41 million in the year-ago quarter, while revenue grew 17.4% to RM269.89 million, from RM229.94 million previously.
The better earnings was attributed to the group's core construction segment, which currently has a substantial orderbook comprising projects awarded by premier property developers in Malaysia.
This brings its cumulative net profit for the nine-month period to RM104.39 million, up 8.6% from RM96.16 million a year ago.
Revenue for the period rose 14.2% to RM803.43 million, from RM703.36 million in the same period last year.
At the noon break today, shares in Kerjaya Prospek slid two sen or 1.6% to RM1.24, bringing a market capitalisation of RM1.55 billion. — theedgemarkets.com
