George Kent doubles FY17 profit to RM101.4m

Tuesday, March 21, 2017
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George Kent (M) Bhd doubled its net profit year-on-year (YoY) to RM101.4 million, or earnings per share (EPS) of 27 sen, for the financial year ended Jan 31, 2017 (FY17) due to higher turnover.

In an exchange filing yesterday, the engineering and water-related infrastructure specialist noted a 12% YoY improvement to its year-end revenue of RM599 million on record contributions from the group’s engineering and metering divisions.

The engineering division contributed 79% to the topline or RM471 million, while the metering division revenue amounted to RM128 million or 21% of the topline for FY17.

Profit for the fourth-quarter also doubled YoY to RM42.1 million despite revenue for the quarter falling 29% YoY to RM189.1 million.

A final dividend of five sen per share has been declared.

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