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KUALA LUMPUR (Feb 27): Enra Group Bhd saw a 114.6% jump in net profit in the third quarter of the financial year ended Dec 31, 2016 (3QFY2017), to RM10.86 million from RM5.06 million, mainly on higher contributions from the property development and the oil and gas (O&G) services divisions.
In its filing with Bursa Malaysia last Thursday, the group said it posted a higher profit before taxation (PBT) from its continuing operations of RM20.88 million in 3QFY2017, versus a PBT of RM10.23 million a year ago.
Its revenue in 3QFY2017 stood at RM79.67 million, up 54.9% from RM51.44 million.
The group did not declare any dividend for the current quarter under review.
For the cumulative nine months, Enra’s net profit swelled by 143.8% to RM15.72 million from RM6.45 million, as revenue climbed 85.7% to RM169.54 million from RM91.3 million.
Going forward, Enra expects both its property development and O&G businesses to contribute positively to the group’s overall revenue and earnings.
Enra closed one sen or 0.38% lower at RM2.59 last Friday, with a market capitalisation of RM349.44 million.
This article first appeared in The Edge Financial Daily, on Feb 27, 2017.
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