WCT Q3 net profit jumps 70.2%

PETALING JAYA: WCT Holdings Bhd saw its net profit in the third quarter ended Sep 30, 2017 jump 70.2% to RM40.8 million, from RM24 million in the previous corresponding quarter, mainly due to stronger contribution from the local construction division.
Revenue for the quarter increased 13.3% to RM469.76 million, compared with RM414.4 million in the same period last year.
For the nine months period, its net profit increased 47% to RM95.3 million, from RM64.9 million a year ago, while revenue declined 10.4% to RM1.3 billion, against RM1.48 billion previously.
On its prospects, WCT said the group expects the overall construction profit to improve, with a higher proportion of infrastructure related jobs.
Barring unforeseen circumstances, the board said it is of the view that the group will be able to deliver a satisfactory financial results in the current financial year.
WCT slipped 1 sen or 0.60% to RM1.65 with 1.62 million shares traded.