Financials


Condensed Consolidated Statement Of Comprehensive Income
For the financial year ended 30 June 2017

Comprehensive Income

Condensed Consolidated Statement Of Financial Position
As At 30 June 2017

Financial Position

Review of Performance for the Year

For the financial year ended 30 June 2017, the Group recorded a revenue and profit before tax of RM1,088.71 million and RM181.72 million respectively as compared to a revenue of RM793.58 million and a profit before tax of RM190.95 million for the preceding year corresponding period.

The increase in the revenue for the reporting period was mainly due to the preliminary and construction work for Setiawangsa-Pantai Expressway (SPE). Higher sales recognition for EkoCheras project coupled with advanced progress work has also contributed to a higher revenue from the property development segment. Despite an increase in the revenue, the profit before tax for the reporting period is lower than the preceding year corresponding period due to the recognition of other inc

Review of Performance for the Quarter

The Group reported a profit before taxation of RM50.84 million from a revenue of RM318.45 million as compared to the previous quarter of RM21.26 million profit before tax from a revenue of RM291.75 million.

DThe improve profit before tax for the reporting quarter is due to higher revenue contribution from the construction segment. In the previous quarter, there was an one-off expense amounting to RM22.62 million on fair value adjustment pursuant to the granting of the Employees’ Share Option Scheme on 9 March 2017 which resulted in a lower profit before tax.

Prospects

The Board expects the ongoing construction of SPE, River of Life and related projects, the opening of the DUKE Phase-2’s toll revenue and the recognition of unbilled sales from property development activities to contribute positively to the Group's turnover and profitability in the coming financial year.

Barring any unforeseen circumstances, the Board is of the view that the Group’s performance would remain satisfactory in the coming financial year.