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Latest Quarterly Results

Quarterly Report For The Financial Period Ended 31 March 2018

Financials Archive

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Condensed Consolidated Statement Of Comprehensive Income
For The First Quarter Ended 31 March 2018

(The figures have not been audited)

Condensed Consolidated Statement Of Comprehensive Income

The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the audited financial statements for the financial year ended 31 December 2017 and the accompanying explanatory notes attached to the interim financial statements.

Condensed Consolidated Statement Of Financial Position As At 31 March 2018

(The figures have not been audited)

Condensed Consolidated Statement Of Financial Position

The Unaudited Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 31 December 2017 and the accompanying explanatory notes attached to the interim financial statements.

Review of Performance

Review of Performance

Manufacturing Division

The revenue of Q1 2018 was recorded at RM12.3 million as compared to RM15.5 million of the corresponding quarter in preceding year, a decrease of RM3.2 million. This was mainly attributed to lower export sales.

Property Division

The revenue of Q1 2018 was recorded at RM9.9 million as compared to RM2.3 million (restated) of the corresponding quarter in preceding year, an increase of RM7.1 million due to higher percentage of completion coupled with higher sold unit.

The Group's loss before tax of current quarter was recorded at RM1.7 million as compared to RM0.6 million of the corresponding quarter in preceding year, an increase of RM1.1 million mainly due to lower gross profit generated by Manufacturing Division resulting from lower sales and higher material cost.

Current Year Prospects

The global and domestic economy are projected to continue growing in 2018 and the Manufacturing Industries shall grow in tandem with the current economy. For Manufacturing Division, inflation in material cost and higher direct labour expenses is expected to reduce gross profit margin of the division.

In regard to Property Division, revenue recognition of Damai Vista Project started upon adoption of MFRS 15 effective from 1 January 2018 and as such the project is expected to contribute positively to the Group's 2018 financials.


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