Posted by Jimmy Song > 2013-11-28 08:28 | Report Abuse

CONTINUED DOUBLE DIGIT PROFIT GROWTH FOR OCK’S Q3 RESULTS PUCHONG, 27 NOVEMBER 2013 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunications network services provider announced its third quarter results for its financial year ending 31 December 2013 (“Q3FY13”) with a revenue of RM40.1 million reflecting an increase of 20.4% increase as compared to its previous quarter of RM33.32 million. The Group delivered a profit before tax (“PBT”) of RM4.9 million and profit after tax of (“PAT”) of RM4.0 million for the quarter under review representing a profit increase of 19.2% and 29.4% respectively as compared to its previous quarter. As for OCK’s segmental performance, its telecommunication network services and green energy and power solutions remain to be the Group’s key profit contributors with reported revenues of RM19.6 million and RM15.6 million, respectively for Q3FY2013. Telecommunication network services PBT of RM3.7 million delivered a profit increase of 16.3% against its preceding quarter due to better margins on projects being delivered. OCK’s green energy and power solutions segment delivered a revenue growth of RM6.7 million for its quarter under review due to contributions being recognised from its on-going solar farm contract project in Sepang. In respect to its cumulative financial performance to date for the financial period ended 30 September 2013, the Group has reported a total revenue of RM104.0 million and a PBT of RM12.3 million. Commenting on the results Mr. Sam Ooi, Managing Director of the Group said, “Overall the Group’s financial performance thus far has been very encouraging. We are optimistic and will do our very best in securing the best interest of the Group.” The Group has completed and energized its 1megawatt solar farm and will be expecting revenue contributions in the near future. OCK is anticipating active deployments of 4G LTE from major telecommunication companies in future, which will be a promising opportunity for the Group to capitalise on in the near future. Tracking on OCK’s regional business developments, the Group will be expecting Cambodia to commence operations and anticipating positive revenue contributions in the future.