Friday, August 26, 2011

Muhibbah order book at RM3.08b

Written by Joseph Chin of
Friday, 26 August 2011 20:23

KUALA LUMPUR: Muhibbah Engineering Bhd’s secured order book totalled RM3.08 billion as at Aug 19, 2011 which was sufficient to take the company into 2014.

It said on Friday, Aug 26 that of the RM3.08 billion, the infrastructure CONSTRUCTION [] division’s order book was RM2.21 billion, cranes division art RM675 million while the shipyard division had RM194 million.

Announcing its second quarter results for the period ended June 30, 2011, it said net profit rose 28.1% to RM13.82 million from RM10.78 million. Revenue increased by 10.7% to RM513.10 million from RM463.28 million while earnings per share were 3.46 sen compared with 2.73 sen.

Muhibbah said in the first half, its net profit doubled to RM32.02 million from RM16.08 million but revenue increased by 3.8% to RM907.44 million from RM873.85 million.

When compared with the first quarter, it reported an increase of 77% consolidated profit after tax to RM36.86 million for the period ended June 30, 2011 compared to RM20.79 million a year ago.

“This is mainly due to better results from the infrastructure construction division and the cranes division,” it said.

On the receivership involving its major customer, Asia Petroleum Hub Sdn Bhd (APH), it said the receivership was uplifted in August. “APH then continues its process of negotiation with investors to inject fund to complete the project,” it said.

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