Published: Monday December 31, 2012 MYT 2:21:00 PM

Environ engineering drives Cypark's Q4 earnings to RM4.96m

By Joseph Chin

KUALA LUMPUR: Cypark Resources Bhd's environmental engineering business helped boost its earnings by 105% to RM4.96mil in the fourth quarter ended Oct 31, 2012 from RM2.42mil a year ago.

It announced on Monday profit before tax rose 84% to RM6.7mil from RM3.7mil while its revenue increased by 31.3% to RM56.1mil from RM42.72mil. Earnings per share were 3.22 sen compared with 1.67 sen.

Cypark said its environmental engineering saw a 28% rise in revenue to RM48mil from RM38mil. Profit before tax increased 18.2% to RM8mil from RM6.8mil.

"This is due to higher revenue generated from the new landfill closure, upgrading projects and environmental specialist works," it said.

It said revenue for the landscaping and infrastructure division increased 60% to RM3.6mil from RM2.2mil mainly due to projects secured for the building of roads, utilities and landscaping at Putrajaya.

As for its renewable energy, it said the total income of RM2.3mil was the accrued revenue of green electricity generated from the Pajam solar farm where export of power started in March 2012.

For the financial year ended Oct 31, 2012, its earnings rose 27% to RM25.51mil from RM20.08mil in the financial year ended Oct 31, 2011 while revenue increased 21.2% to RM195.82mil from RM161.53mil.

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