Favelle Favco Bhd has posted an increase in profit before tax to RM4.183 million for the first quarter ended March 31, 2011 from RM3.783 million in the previous corresponding quarter.

Revenue rose to RM85.181 million from RM74.950 million, the company said in a filing to Bursa Malaysia today.

Favelle said its group outstanding order book was RM496.4 million, the majority of which was from oil and gas cranes for the offshore oil and gas exploration and production activities while the remaining were from the shipyard, construction and wind turbine industries.

It expected to maintain its market share although the outlook remains challenging. -- Bernama