KUALA LUMPUR: Construction services firm, GDB Holdings Bhd (GDB) has registered a 53.7 per cent rise in net profit to RM8.8 million in the first quarter ended March 31,2021 (Q1) compared to RM5.7 million in the same period last year.
Revenue improved 11.2 per cent to RM111.1 million from RM99.9 million previously. The increase in net profit was contributed by construction for certain projects that were in advanced stages of construction, as well as contribution from completed projects.
Group managing director Cheah Ham Cheia said the group managed to achieve commendable results in Q1 amid the implementation of Movement Control Order (MCO) 2.0 from Jan 13,2021 until March 4,2021 as the construction sector was allowed to operate, albeit with limited workforce capacity.
He said the group remained hopeful that the impact from MCO 3.0 which was enforced from May 6,2021 would not be significant as most economic sectors were still allowed to continue operating, with strict adherence to the standard operating procedures.
...