KUALA LUMPUR (May 30): Kerjaya Prospek Group Bhd's (KPGB) net profit for the first quarter ended March 31, 2019 (1QFY19) rose 8.4% year-on-year (y-o-y) to RM35.12 million from RM32.35 million, on the back of higher revenue.

In a filing to Bursa Malaysia today, KPGB said revenue for the quarter came in 3.5% higher y-o-y at RM264.18 million versus RM255.14 million.

Earnings per share was 2.84 sen against 2.60 a year earlier. No dividend was declared.

Reviewing its performance, KPGB said that overall, the increase in revenue was mainly attributed to its construction segment, which currently has a substantial orderbook comprising projects awarded by premier property developers in Malaysia.

"There is improvement in the manufacturing segment performance.

"The property development segment is also expected to contribute positively to the group's earnings moving forward with the encouraging take-up rate in the group's property development project in Genting Permai," it said.

On its prospects, KPGB said that during 1QFY19, it has secured building contracts worth RM435 million.

"On the group's maiden project, Vista Residences has also recorded an encouraging take-up rate with its current unbilled sales of approximately RM17 million.

"Moving forward, the group aims to focus on the construction segment to be the main revenue driver," it said.

At the midday break, KPGB was flat at RM1.24, with 91,900 shares traded.

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