KUALA LUMPUR: WAH SEONG CORPORATION BHD [] posted net profit of RM16.19 million in the second quarter ended June 30, 2011, compared with RM1.70 million a year ago boosted by pipeline services, engineering divisions.
It said on Thursday, Aug 25 it revenue rose 9.5% to RM405.16 million from RM369.74 million. Earnings per share were 3.38 sen compared with 0.22 sen. It declared an interim dividend of 3.0 sen.
For the first half, net profit jumped 271% to RM69.56 million from RM18.72 million while revenue climbed 14.9% to RM896.05 million from RM779.36 million.
Wah Seong said profit before taxation for 2Q and 1H was RM34.4 million and RM103.1 million respectively as compared with a loss of RM6.4 million and a profit of RM32.0 million a year ago.
'The increase in profit before taxation is mainly due to a higher contribution from the pipeline services and engineering divisions,' it said.
When compared with the first quarter, the pre-tax profit decreased to RM34.4 million in 2Q from RM68.7 million in 1Q mainly due to the lower revenue generated by the pipeline services division in the current quarter.
It said on Thursday, Aug 25 it revenue rose 9.5% to RM405.16 million from RM369.74 million. Earnings per share were 3.38 sen compared with 0.22 sen. It declared an interim dividend of 3.0 sen.
For the first half, net profit jumped 271% to RM69.56 million from RM18.72 million while revenue climbed 14.9% to RM896.05 million from RM779.36 million.
Wah Seong said profit before taxation for 2Q and 1H was RM34.4 million and RM103.1 million respectively as compared with a loss of RM6.4 million and a profit of RM32.0 million a year ago.
'The increase in profit before taxation is mainly due to a higher contribution from the pipeline services and engineering divisions,' it said.
When compared with the first quarter, the pre-tax profit decreased to RM34.4 million in 2Q from RM68.7 million in 1Q mainly due to the lower revenue generated by the pipeline services division in the current quarter.
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