KUALA LUMPUR: Damansara Holdings Bhd (DBhd) revenue for its third quarter (Q3) ended 31 March 2022, declined by 3 per cent to RM41.4 million compared to RM42.8 million in the same quarter last year.

Nevertheless, the company recorded a significant improvement in gross profit, which increased by 29 per cent to RM9.4 million for Q3, compared to RM7.3 million in the same quarter last year.

For the cumulative nine-month (9M) period, DBhd posted revenue of RM123.5 million with a gross profit of RM26.4 million.

However, due to the challenging economic environment, the company recorded an operating loss of RM6.1 million for the period.

Group managing director Muaazam Mahmud said that although the country has started to transition into the endemic phase of Covid-19, challenges are expected to persist in the final quarter of FY22, given the volatile business environment.

"During this period, our integrated facilities management (IFM) segment will remain a key driver of growth for the company, as the strongest contributor to our revenue since the onset of the pandemic," he said in a statement.

Muaazam said that despite current economic headwinds, the company is cautiously optimistic about the outlook ahead and is taking steps to further strengthen prospects by implementing strategic plans.

"These include the reorganisation and streamlining of our businesses to enhance efficiencies and generate more significant revenue.

"This will create a strong foundation for us to hit the ground running in 2023 and drive the long-term sustainable growth of DBhd moving forward," he added.