Kerjaya Prospek's net profit up 59% in 2Q2021

KUALA LUMPUR (Aug 26): Kerjaya Prospek Group Bhd recorded a year-on-year (y-o-y) increase of 59% on its net profit to RM16 million in its second quarter of 2021 financial year ending Dec 31, 2021, mainly contributed by its construction division.

According to a statement by the group, it also registered a y-o-y increase of 48.2% on revenue to RM189.9 million in 2Q2021, as compared to RM128.1 million in 2Q2020.

The group attributed the result to its construction projects in 2QFY2021 which were less affected by the impact brought about by the movement control order as compared to 2QFY2020. The construction division remains Kerjaya’s largest revenue contributor, accounting for 99.7% of revenue.

As at June 30, 2021, the group’s balance sheet remained at a higher net cash position of RM196.1 million and current ratio of 3.9 times, while the outstanding order book stands at approximately RM3.3 billion for the construction contracts, which is expected to support the group’s bottom line and provide earnings visibility for the next three years.

The board of directors of Kerjaya Prospek has approved an interim dividend of 1.5 sen per ordinary share.

“Outlook of the domestic economy is expected to remain uncertain. We will continue to be vigilant and implement appropriate business strategies in a timely manner to safeguard our operational and financial performance.

“To date, more than 90% of our workers have completed one dose of vaccination while more than 60% have completed two doses. Therefore, we are able to operate with 80% capacity. 

“We target 80% of our workers to have two doses by September 2021, which will allow us to resume our operations fully,” Kerjaya Prospek CEO and executive director Tee Eng Tiong (pictured) said in a statement.  

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