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Melati Ehsan fourth quarter revenue dives

admin2022-10-226

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PETALING JAYA: The appetite for properties, especially for newly-launched residences, continues to be commendable, according to Melati Ehsan Holdings Bhd.

The turnkey contractor, however, said that significant growth could not be expected as yet, given several headwinds in the near-term.

Melati Ehsan foresees a reduction in new construction jobs in the local market, amid a more competitive tender environment.

“Based upon this, Melati Ehsan plans to focus on execution and timely completion of its existing order book,” it said in a stock exchange filing.

In the fourth quarter ended Aug 31, the group’s revenue plunged by 70.21% year-on-year (y-o-y) to RM6.93mil.

However, its net profit – albeit only RM756,000 for the quarter – increased by 19.62% y-o-y due to reduced cost of sales, expenses and taxation.

Earnings per share were 0.65 sen. Melati Ehsan declared a one-sen dividend for the quarter.


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