Taliworks Corporation Bhd, an established pure-play infrastructure company engaged in water treatment, supply and distribution, highway and toll management, waste management and construction and engineering, which has released its second quarter results for the financial year ending 31 December 2017 , recorded a Profit Before Tax and Profit After Tax of RM10.3 million and RM7.8 million respectively, on a revenue of RM91.3 million.
The earnings before interest, tax, depreciation and amortisation was registered at RM23.7 million. These results have accounted for the net provision for discounting of receivables of RM10.9 million which are due to the delay in implementation of the last stage of the Selangor water consolidation exercise.
“The results of the second quarter of 2017 are within the management’s expectations. Looking ahead to the second half of the year, we are positive that we will be able to maintain our earnings momentum. Going forward, Taliworks will continue to tender more infrastructure projects to boost the construction’s order book. Concurrently, we are seeking for opportunities to pursue new infrastructure sectors such as power, and will continue to focus on mature operational brownfield cash-generating investments,” commented Datuk Ronnie Lim, the Executive Director of Taliworks.
“We remain committed with our clear and focused business strategy to continue to provide a recurring and stable source of cash flow to enhance our Company’s growth and to support our Company’s dividend policy,” added Lim.
In view of Taliworks’ favourable performance, the Board of Directors declared a second interim single-tier dividend of 2 sen per share on 1.21 billion ordinary shares, amounting to approximately RM24.2 million, which shall be paid on 22 September 2017.
To date, Taliwork’s has made a total dividend payout of RM48.4 million in respect of the financial year ending 31 December 2017.