MKH net jumps 108% to RM16m

KUALA LUMPUR (May 30): MKH Bhd saw its net profit for 2Q ended March 31 rise 108% to RM15.92 million or 5.47 sen per share.

Revenue also increased 55.15% to RM115.45 million from a year ago.

The increase in revenue and profit was attributed to better contribution from the group's property and construction divisions of RM46.7 million and RM13.9 million respectively.

But losses from the plantation division of RM2.6 million dampened earnings slightly. The division has commenced crude palm oil production in the current quarter and expects to break even and begin positive contributions to the group in the next financial year, it said.

Year to date, MKH's net profit is up 123.6% to RM32.44 million while revenue has risen 87.9% to RM237.07 million.

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