KUALA LUMPUR, Aug 27 — OSK Holdings Bhd posted a net profit of RM103.61 million in the second quarter (Q2) ended June 30, 2021, up by 73 per cent from RM59.83 million in the same period last year.
Revenue increased to RM267.21 million against the RM174.57 million previously, with the key contributor being the property segment, which comprises the property development and property investment divisions.
“The segment registered revenue of RM173.5 million and a pre-tax profit of RM42.5 million in Q2 this year, equivalent to a significant year-on-year increase of 78 per cent and 58 per cent, respectively.
“This was mainly contributed by property sales and construction work of ongoing projects during the quarter, i.e. Ryan & Miho, YouCity III, Iringan Bayu and Bandar Puteri Jaya, as well as net cost savings from completed projects,” the group, which has five core business segments, said in a statement today.
Its earnings per share increased to 5.02 sen (Q2 2020: 2.89 sen).
The board has declared an interim dividend of 1.0 sen per share for the year to date, the same as in the first half of last year.
Barring unforeseen or prolonged disruptions to economic recovery, the board expects the group to perform satisfactorily in the coming quarters of this financial year, supported by prudent business strategies and financial discipline.
OSK Holdings has diversified business interests in property development and investment, financial services, construction, industries, and hospitality.
As of June 30, 2021, the group’s shareholders’ funds stood at RM5.4 billion with total assets of RM8.9 billion and a total market capitalisation of RM1.8 billion. — Bernama
