KUALA LUMPUR: ACE-listed PUC Bhd’s gross and net profits rose 42.8 per cent and 242.3 per cent respectively for the second quarter (Q2) ended June 30, 2017.
In a statement today, the company said this resulted from better margin achieved by its advertising and media (A&M) through increased sales.
It said gross and net profit margins in Q2 were at 39.3 per cent and 4.2 per cent, respectively.
Its revenue in the same quarter increased 17.3 per cent to RM10.13 million from RM8.63 million recorded in Q1, mainly contributed by its A&M arm.
On a year-to-year basis, PUC similarly saw improvement in revenue of 99 per cent in Q2 compared to the same period in 2016 which was at RM5.09 million. This was mainly driven by the A&M business and the contribution from the renewable energy business since Q3 2016.
Net profit, however, dropped 15.1 per cent due to higher contribution from lower profit margin sales mix this year and increased manpower costs, which are being channelled towards building the talent pool to boost the company’s e-commerce and financial technology-related business.
“PUC is constantly evolving to be the next key leader in the digital media and electronic commerce space.
“We look forward to the introduction of our new first of its kind e-commerce and payment services to the market in the near term,” PUC group managing director and chief executive officer Cheong Chia Chou said.