Posted by Jimmy Song > 2018-08-29 10:05 | Report Abuse

Crest Builder Holdings Berhad (“Crest Builder” or “the Group”), today announced its second quarter results for the financial year ending 31 December 2018 (“Q2FY2018”). Q2FYE2018 vs Q2FYE2017 Revenue increased from RM110.68 million to RM151.26 million, representing an increase of 36.7% Gross Profit (GP) increased from RM30.48 million to RM34.64 million, representing an increase of 13.6% Profit Before Tax (PBT) increased from RM11.54 million to RM17.93 million, representing an increase of 55.4% Profit After Tax (PAT) increased from RM7.65 million to RM12.59 million, representing an increase of 64.6% Profit After Tax And Minority Interest (PATAMI) increased from RM7.65 million to RM12.59 million, representing an increase of 68.3% 1HFYE2018 vs 1HFYE2017 Revenue increased from RM205.71 million to RM275.56 million, representing an increase of 34.0% Gross Profit (GP) increased from RM58.75 million to RM62.20 million, representing an increase of 5.9% Profit Before Tax (PBT) increased from RM21.51 million to RM30.40 million, representing an increase of 41.3% Profit After Tax (PAT) increased from RM14.24 million to RM20.84 million, representing an increase of 46.3% Profit After Tax And Minority Interest (PATAMI) increased from RM13.38 million to RM19.76 million, representing an increase of 47.7% The commendable increase in the Group’s top line and bottom line was mainly attributed to construction and property development divisions. During the quarter under review, the Group’s construction division registered a higher revenue of RM144.9 million, from RM134.7 million in 1HFYE2017, lifted by higher construction progress recognised from certain projects, namely Quarza KL East project. Correspondingly, the property development division delivered a higher revenue of RM99.6 million, mainly attributed to higher sales from two (2) completed projects, namely Alam Sanjung (Batu Tiga Phase 4), and Avenue Crest (Batu Tiga Phase 5) as well as a new development project called Residensi Hijauan (Batu Tiga Phase 2), which was launched in the third quarter of 2017. As at June 30, 2018, the Group’s current outstanding construction order book stood at approximately RM1.1 billion with year-to-date (“YTD”) contract wins amounting to RM625.9 million. This huge order book will provide earnings visibility for the coming financial years and enhances the Group’s position in delivering sustainable earnings growth. “I am extremely delighted to announce a strong second quarter performance for the first half of fiscal year ending December 31, 2018, as the Group records significant growth in revenue and earnings as compared to the preceding period, mainly due to various ongoing projects. Subsequently, our outstanding order book stands at approximately RM1.1 billion, excluding upcoming property launches in the pipeline. While the property market remains challenging, we are optimistic of the ongoing developments in the property sector and the changes that will be made by the new Government to see the sector grow. With a clear and driven focus to grow our business, we will continue to actively bid for more construction projects in the near future. Moving forward, we expect our positive earnings momentum to continue as we strive to deliver sustainable financial results and create value for our shareholders,” said Group Managing Director of Crest Builder Mr. Eric Yong.