not vested
WCT says higher margin civil works to sustain growthby Izwan Idris
WCT has an impressive RM5bil order book that includes infrastructure and roadway projects at Tun Razak Exchange (TRX) - Bloomberg
WCT, the construction firm headed by executive chairman Tan Sri Desmond Lim Siew Choon, posted a 17% jump in net profit to RM38.38mil in the first quarter ended March 31.
Consensus estimate puts WCT full year earnings forecast at RM160mil.
Turnover in the first quarter climbed 14% to RM539.8mil, with the engineering and construction division contributing 83% to the total revenue and RM59mil in operating profit.
Analysts said WCT are involved in the Mass Rapid Transit (MRT) project and Tun Razak Exchange development.
“Looking ahead, we are expecting our engineering & construction division to continue to contribute strongly to the group’s financial performance building on our strong outstanding order book of over RM5bil comprising mainly higher margin civil and infrastructural works,” he said.
WCT share price ended the day down half a sen at 79.5 sen, hovering near its lowest level since March 2009. The stock had
fallen 38% since Barisan Nasional lost the general election on May 9.
Desmond Lim, the single largest shareholder in WCT with close to a 20% stake in the company, had strong ties with the previous administration under Datuk Seri Najib Tun Razak.
Source: The Star
https://www.thestar.com.my/business/bus ... ii0lpzT.99
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