WCT records 10.9% dip in 1Q2010 net profit

KUALA LUMPUR: WCT Bhd recorded a net profit of RM34.948 million for 1Q2010, a drop of 10.9% compared with RM39.223 million over the same period a year ago.

Following suit, its revenue of RM400.120 million for 1Q2010 represented a 58.7% drop from RM968.953 million over the same quarter a year ago.

The group, which announced its 1Q performance on Bursa Malaysia on May 21, did not specify the reason for the reduced figures.

WCT also stated that despite the challenging macro economic outlook, it is confident of achieving satisfactory results for the remaining period of the financial year ending Dec 21, 2010.

The group's principal activity is providing civil engineering works specialising in earthworks, highway construction and related infrastructure works.

It is also involved in providing management services and investment holding. Operations are carried out in Malaysia, the Middle East, Mauritius and India.