PETALING JAYA: MMC Corp Bhd
posted 8% increase in net profit to RM57.88mil for the first quarter ended March 31, from RM53.52mil a year earlier despite lower revenue recorded.
The ports and power plant operator and construction conglomerate attributed the higher earnings to its newly acquired subsidiary, Alam Flora Sdn Bhd, improved contributions from Port of Tanjung Pelepas and Johor Port Bhd, as well as stronger earnings from Malakoff Corp Bhd.
In a filing with Bursa Malaysia, MMC said it posted a 4.7% drop in revenue to RM1.09bil compared with RM1.14bil previously, due to lower work at progress for its underground construction project at Mass Rapid Transit, lesser volume handled at Northport Malaysia Bhd and reduced contribution from logistics services provider Kontena Nasional Bhd.
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