Posted by Jimmy Song > 2017-02-27 18:22 | Report Abuse

SUBANG JAYA, 27 FEBRUARY 2017 – AWC BERHAD (“AWC” or “the Group”), a well-established engineering services provider announced its second quarter results for the financial period ended 31 December 2016 (“Q2FYE2017”) with a revenue of RM75.64 million and profit after tax and minority interest (“PATMI”) of RM5.22 million. This brought the cumulative two quarter (“1HFYE2017”) revenue and PATMI to RM142.76 million and RM10.66 million respectively. The increase in the Group’s revenue and profit after tax versus the corresponding period last year can be attributed to strong contributions from the Group’s Facilities, Environment and Engineering divisions. The facilities division’s strong results can be attributed to the commencement of the maintenance for Hospital Shah Alam Selangor (“HSAS”) on 1st March 2016 and the concession renewal on 1st January 2016, as well as several other contracts in the intervening period. The environment division continued to contribute positively to the Group’s results as it delivers on its existing order book with projects spanning across Malaysia, Singapore and the Middle East. The engineering division reported yet another significant increase due to strong progress billings from various plumbing and air-conditioning projects undertaken in the intervening period. DIVIDEND In-line with the Group’s commitment to reward shareholders, a single tier interim dividend of 1.0 sen per ordinary share for the financial year ending 30 June 2017 was declared by the board of directors. Commenting on the strong performance, AWC’s Managing Director & Group CEO, Dato’ Ahmad Kabeer said, “The strong second quarter result caps off a good end to the first half of FY2017. We are looking forward to the coming quarters and are optimistic of the Group’s prospects going forward.”