By Naveen Sachdev
TRC Synergy Berhad is well positioned for sustained growth with its unbilled order book in hand of about RM2.5 billion, and potentially new contract wins nationwide.
At the company’s 20th annual general meeting today, TRC Group Managing Director Tan Sri Sufri Mohd Zin said that 2019 is a year of momentous occasion, as TRC celebrates its 35th anniversary to commemorate more than three decades of achievements and milestones.
"At TRC, we still have plenty of room to grow from strength to strength, riding on the Group’s proven track record and implementation capabilities throughout all these years to where we are as one of the key player, a force to be reckoned within the industry," he said.
Sufri said, with the many sizeable infrastructure projects that are coming onstream over the next few years, such as the ECRL, Coastal Road Project (Sarawak), Second Trunk Road Project (Sarawak), Sarawak Water-Grid project and Pan Borneo Sabah, among others, and barring any unforeseen industry and market circumstances, the Group is optimistic of the opportunities going forward
Over the past five financial years, the Group had continued delivering positive results to its shareholders, with the ‘core’earnings as well as margins consistently holding up throughout the years.
For financial year 2018, the Group posted gross profit of RM69.1million on the back of RM756 million in revenue, with core earnings per share of 6.02 sen amidst the strong headwinds and highly challenging business environment last year.
As for the first quarter ended March 31, 2019, the Group registered a core profit after tax and minority interests of RM14.4 million, a 26% increase as compared to RM11.4 million a year ago, with revenue increasing 8% to RM196 million.
Sufri said TRC is looking forward to a better year with improved industry prospect and policy clarity.
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