KUALA LUMPUR, May 28 — Protasco Berhad has improved its financial performance, posting a first quarter net profit of RM4.1 million after making one-off impairments and write-offs and holding a right-sizing exercise in the fourth quarter of 2018.
Contributions from the maintenance segment continued to underpin Protasco’s performance, with the group showing a stronger pre-tax profit of RM7.8 million for the first quarter ended March 31, 2019, compared to RM4.35 million in the same corresponding period last year.
Protasco saw its revenue grow six per cent to RM166.3 million for the first quarter, from RM157.5 million in the first quarter last year.
“Protasco is on a steady path to recovery and we are working hard to return to full profitability,” said Datuk Seri Chong Ket Pen, executive vice-chairman and group managing director.
The group’s outlook for its construction segment will remain cautious until more signs of recovery are seen in the construction industry, he added.
