Published: Wednesday August 29, 2012 MYT 1:41:00 PM
Hock Seng Lee Q2 earnings up 7.5% to RM22.46m
KUALA LUMPUR: Construction-property company Hock Seng Lee Bhd's earnings rose 7.5% to RM22.46mil in the second quarter ended June 30, 2012 from RM20.88mil a year ago due to higher revenue and improved margins from projects carried out.
The Sarawak-based company said on Wednesday that the construction segment contributed RM27.86mil (93%) of the group's profit before tax, up 10% from the RM25.39mil a year ago.
Revenue increased at a slower pace of 1.9% to RM151.71mil from RM148.88mil, with construction accounting for 95% or RM143.68mi. Earnings per share were 4.05 sen compared with 3.78 sen.
It declared a first interim dividend of 7% per share of 20 sen each or 1.4 sen.
"The group currently has approximately RM2bil worth of projects in hand and will continue to pursue projects that utilise its core strength in marine engineering, civil engineering and construction," it said.
In the first half, its earnings increased 9% to RM42.06mil from RM38.56mil in the previous corresponding period. Revenue increased 6.7% to RM290.91mil from RM272.50mil.