MMC Corp posts higher Q3 net profit, thanks to MRT jobs

 Publish date: Tue, 26 Nov 2019, 7:46 PM

KUALA LUMPUR: MMC Corporation Bhd has posted a higher net profit of RM66.34 million for the third quarter (Q3) ended September 30, 2019 from RM38.94 million recorded in the same period a year ago.
Revenue rose 32 per cent to RM1.23 billion versus RM944.07 million, due to higher work progress from KVMRT-SSP Line, offset with lower progress from Langat Sewerage project.
Its basic earnings per share stood at 2.20 sen from 1.30 sen.
“Continuous investments into the ports’ infrastructure, capacities and capabilities along with the execution of operational plans are expected to deliver positive results. Operational and cost synergies driven by MMC would further improve the performance of its ports and logistics division.
“Overall, the group expects to strengthen our capabilities with a focus on operating performance and efficiency, while exploring new opportunities. Based on the foregoing, the group expects the financial performance for 2019 to be satisfactory,” it said.
 - Bernama
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