Posted by Jimmy Song > 2018-05-21 23:27 | Report Abuse

AWC BERHAD (“AWC” or “the Group”), a well-established engineering services provider announced its third quarter results for the financial year ending 30 June 2018 (“Q3FYE2018”) with: Revenue of RM75.25 million PBT of RM11.18 million PAT of RM8.51 million PATAMI of RM6.86 million As compared to its corresponding year (“Q3FYE2017”) with: Revenue of RM67.42 million PBT of RM9.20 million PAT of RM6.51 million PATAMI of RM5.03 million Which translates to an increase of: 11.6% 21.5% 30.7% 36.4% Segmental Performance (Q3FYE2018 vs Q3FYE2017) The Group’s Facilities division registered revenue and PBT of RM46.29 million and RM5.08 million, which translates to an increase of 59.1% and a decrease of 12.5% respectively. The increase of revenue was mainly attributed to the commencement of four (4) new projects in Putrajaya as well as recognition from the Capital Asset Refurbishment Programme. While the marginal decrease of PBT was due to cost restructuring as well as saving on mobilization costs incurred for the new contracts. The environment division reported revenue and PBT of RM13.65 million and RM4.66 million. This translates to a decrease of 3.9% and an increase of 35.1% respectively. The slight decrease in revenue was mainly attributed by delays of certain projects, which are expected to pick up in the ensuing quarters. The engineering division reported revenue and PBT of RM26.48 million and RM1.80 million. This translates to an increase of 3.7% and a decrease of 17.1% respectively. The increase of revenue was mainly attributed by the further revenue recognition from inter division projects with the Facilities division while the decrease in PBT was due to margin compression and cost overruns experienced in the Air Cond segment as well as certain project delays in the Plumbing segment. Quote from the Managing Director & Group CEO, Dato’ Ahmad Kabeer “I am pleased that AWC has delivered our best quarter ever and managed to achieve a 36% growth in earnings for Q3FY18 despite the challenging operating environment. Nonetheless, with the Group’s current outstanding orderbook as at 1 April 2018 of approximately RM1.06 billion, I am confident that the group will continue this momentum as we continue to create value for ourr valued shareholders. We would like to them for their confidence and unwavering support in AWC Berhad.” Commented AWC’s Managing Director & Group CEO, Dato’ Ahmad Kabeer.