Bina Darulaman 3Q net profit down 67% on lower contribution in road and quarry division

KUALA LUMPUR (Oct 19): Bina Darulaman Bhd's net profit for the third quarter ended Sept 30, 2017 (3QFY17) plunged 67.2% to RM1.91 million, from RM5.81 million a year ago due to lower earnings in its road and quarry division.

Its earnings per share shrank to 0.62 sen per share in 3QFY17 from 1.91 sen per share a year ago.

In a filing with Bursa Malaysia today, Bina Darulaman said the profit contribution from the road and quarry division dropped to RM3.9 million from RM11.2 million in 3QFY16 due to higher production costs.

The company’s quarterly revenue fell 37.8% to RM54.21 million from RM87.18 million in 3QFY16 on lower contributions from its property and road and quarry divisions.

For the cumulative nine months of FY17, its net profit declined 75.6% to RM2.62 million, or 0.85 sen a share, against RM10.73 million or 3.53 sen a share a year ago. Meanwhile, its revenue was down 2.8% at RM197.03 million, from RM202.67 million last year. — theedgemarkets.com

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