KUALA LUMPUR: CypARK RESOURCES BHD [] reported net profit of RM6.55 million in the first quarter ended Jan 31, 2011 on the back of RM42.61 million in revenue and expects to ride on the growing renewable energy business.
It reported on Monday, March 28 that earnings per share were five sen.
When compared to the previous quarter, it said the revenue rose by 17% to RM42.61 million mainly due to the smooth progress of phase two of its projects.
However, the 1Q gross profit margin fell 10.7% to 26.1% due to lower margins from engineering works.
It said it planned to venture into the renewable energy business. The proposed renewable energy park project in Pajam would harness the potential resources at the landfill. The solar, landfill gas (biogas) and waste (biocell) would enable it to tap into scalable renewable energy which would generate up 10 mW.
'The group believes that with the multiple initiatives being implemented by the Malaysian government in promoting green energy, our plans for future growth augur well for Cypark,' it said.
It reported on Monday, March 28 that earnings per share were five sen.
When compared to the previous quarter, it said the revenue rose by 17% to RM42.61 million mainly due to the smooth progress of phase two of its projects.
However, the 1Q gross profit margin fell 10.7% to 26.1% due to lower margins from engineering works.
It said it planned to venture into the renewable energy business. The proposed renewable energy park project in Pajam would harness the potential resources at the landfill. The solar, landfill gas (biogas) and waste (biocell) would enable it to tap into scalable renewable energy which would generate up 10 mW.
'The group believes that with the multiple initiatives being implemented by the Malaysian government in promoting green energy, our plans for future growth augur well for Cypark,' it said.
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