KUALA LUMPUR, May 27 — Construction outfit Kerjaya Prospek Group Bhd recorded a net profit of RM26.39 million for the first quarter (Q1) ended March 31, 2021, up 18.2 per cent from RM22.33 million a year earlier.

The improved earnings were on the back of a higher revenue of RM268.67 million against RM211.84 million in the corresponding period of last year.

Kerjaya attributed the better results mainly to the group’s resumption of its construction projects following the movement control order restrictions. The construction division contributed the bulk of the group’s revenue.

The segment’s profit increased to RM24.50 million in the quarter under review compared to RM21.50 million in the year-ago period, it said in a filing with Bursa Malaysia today.

In a press statement, chief executive officer and executive director Tee Eng Tiong said in this financial year ending December 31, 2021 (FY21), Kerjaya continued to face a lot of uncertainties globally and domestically but it remained confident of weathering the period, underpinned by a strong balance sheet, robust outstanding order book and stringent cost control measures.  

"The group will continue to monitor and implement appropriate business strategies in a timely manner in order to address any uncertainties brought by the pandemic and thus safeguard our operational and financial performance.

"Year to date, our construction division managed to secure three contracts with a combined value of RM384.5 million, coming from both building and infrastructure works,” Tee said.

He said with the recent rise in property sales due to pent-up demand, Kerjaya was optimistic of the industry’s outlook and planned to launch two new property development projects in the second half of this year.

Earlier today, the proposed final dividend of 1.5 sen per share for FY20 was tabled and approved by Kerjaya’s shareholders at its annual general meeting.

The entitlement date and the payment date of the dividend are June 21 and July 7, 2021, respectively. — Bernama