Cambodia power plant boosts Mega First 1Q net profit to RM57.4m

TheStar Thu, May 28, 2020 05:44pm - 3 years View Original

Mega First said the Don Sahong plant went into full commercial operation on Jan 7 following successful testing of and synchronisation with Électricité du Laos’s (EDL) new 500KV transmission line to Cambodia.

KUALA LUMPUR: MEGA FIRST CORPORATION BHD reported first quarter net profit of RM57.40mil, boosted by energy sales revenue from the Don Sahong project in Cambodia which was completed in early of the fourth quarter last year.

Mega First said on Thursday the net profit increased by 70.5% from RM33.65mil a year ago. Its revenue however fell by 27.5% to RM160.68mil from RM221.84mil. Earnings per share were 13.49 sen compared with 8.48 sen.

It said the lower revenue was mainly due to the absence of construction revenue (1Q2019: RM169.9mil), mitigated by RM103.3mil energy sales revenue (1Q2019: Nil), and higher contributions from the resources division and the packaging & labels division.


Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.

Related Stocks

MFCB 3.260


Login to comment.