WCT Holdings 2QFY2025 revenue jumps 47% to RM554m

• The Engineering and Construction segment continued to be the main contributor to group revenue, accounting for RM248 million, or 45% of total quarterly revenue, while Property Investment & Management added RM64 million, supported by higher contributions from hotels and the aviation division.

PETALING JAYA (Aug 28): WCT Holdings Bhd reported a 47% year-on-year increase in revenue to RM553.78 million for the second quarter ended June 30, 2025 (2QFY2025), driven by higher sales and billings in the property development segment and revenue from land sales.

However, the net profit fell 48% to RM16.68 million, reflecting higher costs and weaker contributions from associates.

According to its exchange filing on Tuesday (Aug 26), the property development segment was the key driver, with earnings before interest and tax surging to RM46 million on revenue of RM241 million, more than double a year ago.

The Engineering and Construction segment continued to be the main contributor to group revenue, accounting for RM248 million, or 45% of total quarterly revenue, while Property Investment & Management added RM64 million, supported by higher contributions from hotels and the aviation division.

For the first half of FY2025, WCT recorded cumulative revenue of RM1.025 billion, up 21% from RM843.72 million in 1H2024, with operating profit rising to RM142 million from RM131 million a year earlier.

The growth was primarily driven by stronger profit contributions from the property development segment, increased recognition of property development profits, and gains from land sales.

Engineering and Construction reported stable revenue of RM473 million, though operating profit fell to RM9 million from RM43 million a year earlier, mainly due to lower margins as high-margin projects neared completion.

The group recorded basic earnings per share of 1.75 sen for 1H2025, down from 3.35 sen in 1H2024, and no dividend was declared.

Looking ahead, WCT expects continued support from resilient domestic demand, strong household spending, and recovering tourism.

The Engineering and Construction division will focus on project execution and cost recovery while securing new contracts locally and overseas.

For Property Development, the robust Malaysian economy and strong consumer demand are expected to further support property launches and retail mall performance, particularly in airport malls, hotels, and business aviation services.

As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.