Minetech Records 32% Increase in Revenue for 2Q
2022年11月24日 - 07:00PM
JCN Newswire
Civil engineering specialist and bituminous products
manufacturer Minetech Resources Berhad today reported that the
Company recorded a 31.9% rise in revenue to RM26.9 million for the
second quarter ended 30 September 2022 (2Q FY2023) compared with
RM20.4 million in the corresponding quarter of the last financial
year (2Q FY2022).
The Company registered a loss before tax (LBT) of RM1.5 million for
the quarter under review compared with LBT of RM4.7 million in 2Q
FY2022.
On a segmental basis, the civil engineering division recorded a
8.1% rise in revenue to RM16.1 million in 2Q FY2023 compared with
RM14.9 million in 2Q FY2022. The manufacturing division, which
produces bituminous products for pipe coating, waterproofing and
sealing, posted a 166.7% increase in revenue to RM7.2 million
compared with RM2.7 million in the same quarter of the previous
financial year.
For the first-half of the financial year ended 30 September 2023
(1H FY2023), Minetech registered a 36.9% increase in revenue to
RM50.9 million compared with RM37.2 million in 1H FY2022. The
Company recorded LBT of RM3.1 million in the period under review
compared with RM9.1 million in 1H FY2022.
Matt Chin, Executive Director of Minetech, said, "We continue to
see our financial performance improve with narrower losses on
higher revenue contribution from the civil engineering division's
Selinsing Gold Mine due to increase in work volume as well as from
the Cheras-Kajang Highway, Wangsa Brezza Hill and GM Emerald
Square."
"We have seen a significant increase in revenue contribution from
the manufacturing division mainly due to the rise in sales of
coating enamel and blown asphalt products as a result of improved
demand from both domestic and overseas markets."
"While economic growth is on a stronger footing based on Malaysia's
third-quarter GDP figures, we note the increased risks of a
slowdown in 2023 as global uncertainties stemming from the
Russia-Ukraine conflict, China's slowdown and inflationary pressure
continue to weigh on sentiments. We continue to emphasise various
cost-control measures and cash conservation and at the same time
exploring opportunities that have seen us venturing into technology
and innovation and penetrating into second-tier construction
activities. These initiatives have helped us weather the storm and
continue to create value for shareholders and other
stakeholders."
Minetech Resources Berhad: 7219 [BURSA: MINE],
https://minetech.com.my/
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