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JAKS Resources achieved 43% hike in revenue for 1Q

KUALA LUMPUR: JAKS Resources Bhd achieved a 43% hike in revenue to RM76.1 million from RM53.4 million a year ago in its first quarter (1Q) financial statements, the group announced on Thursday, Mar 31.

"The increase was mainly due to the higher revenue contributed from recognition of works done for the projects in the construction division," the group said.

Net profit for JAKS Resources for its 1Q was RM865,000, compared to a net loss of RM283,000 the previous year. The basic earnings per share rose to 0.20 sen, from a basic loss per share of 0.06 sen. Its net assets per share was unchanged from the preceding financial year-end result of RM1.05.

JAKS Resources engages in manufacturing and trading steel pipes, ductile steel pipes, steel hollow section, butt welding pipe fitting products, steel elbow joints, and other steel related products in Malaysia. The group is based in Subang Jaya.

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