Business

Concrete Engineering’s Q1 pre-tax profit rises to RM16.9m

KUALA LUMPUR, Jan 30 – Concrete Engineering Products Bhd’s pre-tax profit for its first quarter ended Nov 30, 2012, rose to RM16.875 million from RM2.790 million in the same quarter last year.

Revenue increased to RM63.135 million from RM37.127 million previously, Concrete Engineering said in a filing to Bursa Malaysia.

It said the increase in revenue was due to the higher level of deliveries from customer’s current site requirements.

“The current year prospects are backed against our present order book and potential orders from new projects in Malaysia and regionally.

“Concrete Engineering said the effect of major raw material prices would also have a direct effect on the prospects of the Group as selling prices are based on prevailing prices of raw materials.

“The Group’s major raw materials include cement, steel bars, sand and aggregates,” it added. – Bernama

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