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Melati Ehsan Q3 Earnings Sharply Lower
By:
  • Melati Ehsan Holding‘s earnings fell sharply to RM827,000 in 3Q15 ended 31 May 2015, from the RM6.6 million in 3Q14 attributable to higher operating expenses, lower revenue and some provisional cost recognised.
  • Revenue fell 57 percent to RM46.3 million from RM108.2 million. For 9M15, its earnings fell 67.4 percent to RM5.5 million from RM16.9 million while revenue declined 39 percent to RM154.3 million from RM252.7 million.
  • The decrease in the profit of the group in the current financial period as compared to the preceding year corresponding period was due mainly to lower operating revenue from all segments of the group.

Significance: The lower revenue was due mainly to construction works at Medini Iskandar and that one of the “Programme Perumahan Rakyat” projects had reached the final stage of completion.


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