Sunway Construction Group Bhd announced a revenue of RM544.3 million and profit before tax of RM45.2 million for the current quarter ended 31 March 2018, compared to revenue of RM417.3 million and profit before tax of RM41.9 million in the corresponding quarter of the preceding financial year.
The Group's revenue increased by 30.4% mainly due to the construction segment which was offset by a decline in its precast segment. The Group's margin was slightly affected due to a decline in profitability in the precast segment.
The construction segment reported revenue of RM511.6 million and profit before tax of RM43.0 million compared to revenue of RM387.2 million and profit before tax of RM35.6 million in the corresponding quarter of the preceding financial year.
The higher revenue in the current quarter by 32.1% was due to higher contribution from Building division and Civil division in Central region due to higher progress of work. Profit margin for both quarters were within the normal band of margin for our on-going projects.
The Group's outstanding order book as at June 2018 amounted to RM5.8 billion with a total of RM854 million in new orders to date. SunCon is actively seeking both external and in-house jobs and is confident of achieving its new targeted orders of RM1.5 billion by year ending 2018.
SunCon has proposed its first interim dividend of 3.5 cents per share for the financial year ending 31 December 2018 which is more than 60% payout from year to date profit after tax and minority interest (PATMI).
“We are also very pleased to have won the Integrated Construction Prefabrication Hub (ICPH) land lease in Singapore with our JV partner HL Building Materials Pte Ltd on 27 July 2018. With this, SunCon’s precast division’s presence in Singapore is aligned with the Singapore Government’s policy quest for further mechanisation to improve productivity,” said Sunway Construction Group Managing Director, Chung Soo Kiong.
