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Thursday, 12 July 2018 | MYT 7:49 PM

Gabungan AQRS sees higher earnings this year

KUALA LUMPUR: Gabungan AQRS Bhd expects its results this year (FY18) to exceed last year’s performance, as work progress at on-going projects gathers pace.

It is targeting to add RM1.5bil to its construction order book this year.

“The group remains confident that with its outstanding construction order book and its current property developments, it will be able to deliver satisfactory performance from FY18 onwards,” it said in a filing with Bursa Malaysia today.

Gabungan AQRS posted a 160% jump in net profit to RM19.1mil on revenue of RM187.2mil in the second quarter ended June 30, compared with a net profit of RM7.2mil and turnover of RM79.8mil made a year earlier.

The increase was driven by higher contribution from its construction business, which accounted for 93% of its quarterly revenue.

Revenue for the current quarter was mainly contributed from the work progress for the Sungai Besi – Ulu Kelang (SUKE) Highway, Pusat Pentadbiran Sultan Ahmad Shah (PPSAS) and Light Rail Transit 3 (LRT3) projects,” it said.

As at June 30, the group’s construction order book stood at RM2.5bil, which would sustain its earnings momentum till the year 2021.

“Looking ahead, the group targets to secure more infrastructure related jobs,” it said