Crest Builder's 3Q net profit up 42%

PETALING JAYA: Crest Builder Holdings Bhd // posted a 42% year-on-year (y-o-y) rise in net profit to RM3.06 million for its third quarter ended Sept 30, 2009 (3Q09). This was on the back of a 15% increase in revenue to RM88.22 million.

For the nine-month period, the construction company saw net profit rise 9% to RM10.59 million while revenue was up 5% to RM223.34 million y-o-y.  

In a statement to Bursa Malaysia on Nov 19, the company noted that the improved results were mainly due to higher investment holding income and increased construction activities during the third quarter.

“The group continues to bid actively and successfully for construction projects. Continuous effort is being taken to identify strategic measures for improving the group’s construction margin,” it said.

As at Sept 30, 2009, the company's loans stood at RM85.3 million compared with RM43.2 million as at Dec 31, 2008. Over the same period, the value of its property, plant and equipment jumped to RM53.1 million from RM14.5 million while cash and bank balances dropped to RM8.5 million from RM18.1 million.