PETALING JAYA: While acknowledging that KKB Engineering Bhd
’s net profit for the nine months ended Sept 30 has been below its estimates, research house MIDF Research remains optimistic about the construction engineering firm’s prospects moving forward.
KKB’s net profit for the third quarter of the year fell 68.5% year-on-year (y-o-y) to RM3mil, in tandem with cumulative net profit for the first nine months of 2022 which decreased by 68% y-o-y to RM6.8mil.
This is despite a marginal 3% y-o-y increase in revenue for the quarter to RM102mil, while cumulatively, turnover also rose by 9% y-o-y to RM305.1mil from January to September 2022.
...