KUALA LUMPUR: Ekovest Bhd’s net profit for the first quarter ended Sept 30, 2018 rose to RM43.87 million from RM38.84 million in the same period last year.
Revenue increased to RM304.89 million from RM229.16 million previously, the group said in a filing with Bursa Malaysia today.
It said the increase in the group revenue was mainly due to higher contribution from the property development and toll operation sectors.
On prospects, Ekovest expects the ongoing construction of the Setiawangsa-Pantai Expressway, River of Life and related projects, toll revenue and recognition of unbilled sales from property development activities continue to contribute positively to the group’s turnover and profitability in the current financial year.
“Barring any unforeseen circumstances, the company is confident that its performance would remain satisfactory for the financial year ending June 30, 2019,” it added.
The company declared a dividend of one sen per share for the financial year ended June 30, 2018. The dividend will be paid on Jan 22, 2019 to shareholders on the register as at Dec 31, 2018.