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Higher contributions from property development, O&G segments lift ENRA's 3q profit by 115%

Friday,  24 February  2017

http://www.theedgemarkets.com/my/article/higher-contributions-property-development-og-segments-lift-ENRAs-3q-profit-115?type=Corporate

KUALA LUMPUR (Feb 24): ENRA Group Bhd saw a 114.6% jump in its net profit in the third quarter for the financial year ended Dec 31, 2016 (3QFY17) to RM10.86 million from RM5.06 million, mainly on higher contributions from the property development and oil and gas (O&G) services divisions. In its filing to Bursa Malaysia on Feb 23, the group said it posted higher profit before taxation (PBT) from its continuing operations of RM20.88 million in 3QFY17, versus PBT of RM10.23 million a year ago. Revenue in 3QFY17 stood at RM79.67 million, up 54.9% from RM51.44 million. The group did not declare any dividend for the current quarter under review. For the cumulative nine months (9MFY17), ENRA's net profit swelled by 143.8% to RM15.72 million from RM6.45 million, whereas revenue climbed 85.7% to RM169.54 million from RM91.3 million. Going forward, ENRA expects both its property development and O&G businesses to contribute positively to the group's overall revenue and earnings. ENRA closed 1 sen or 0.38% lower at RM2.59 today, for a market capitalization of RM349.44 million.

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