Kumpulan Perangsang 1Q profit falls to RM1.17 mil

TheEdge Fri, May 31, 2019 07:11pm - 4 years View Original


KUALA LUMPUR (May 31): Kumpulan Perangsang Selangor Bhd's (KPS) net profit for the first quarter ended March 31, 2019 (1QFY19) declined to RM1.17 million, from RM13.21 million in the same period last year.

Revenue, however, rose 64% to RM157.46 million, from RM95.84 million previously, the company said in a filing with Bursa Malaysia today.

The company said the higher revenue was largely attributable to revenues from its new subsidiaries, CPI (Penang) Sdn Bhd and King Koil Manufacturing West, LLC.

“KPS is pursuing the next growth cycle in various core businesses via continuous value creation initiatives, which includes entering new markets and expanding service and product range,” said KPS managing director cum group chief executive officer Ahmad Fariz Hassan.

Notwithstanding macro-economic challenges in the operating environment, the group remained optimistic about its business outlook and believes its initiatives would help its prospects to generate returns. — Bernama
 

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