KUALA LUMPUR: Kerjaya Prospek Group Bhd, which reported an almost 30 per cent jump in net profit for the third quarter ended Sep 30, 2024, has announced a seven sen dividend for shareholders.
Kerjaya Prospek announced an interim dividend of three sen and a special dividend of four sen for the quarter.
In a filing with Bursa Malaysia Securities, the company said net profit rose 29.6 per cent year-on-year (YoY) to RM46.09 million in the third quarter ended Sep 30, 2024 (Q3 2024) thanks to its construction segment.
The segments' revenue grew 41.6 per centto RM487.3 million due to improved progress across ongoing construction projects.
For the quarter, revenue was 39.4 per cent higher YoY to RM504.84 million in the quarter under review compared to RM362.23 million in the same period last year due to improved progress of construction work.
"Our exceptional performance underscores Kerjaya's operational resilience and ability to deliver stellar results despite industry headwinds."
"Our strong financial position equips us to capitalise on new opportunities while driving momentum in our core construction business."
"At the same time, we are strategically expanding our property development segment via Rivanis Ventures Sdn. Bhd., our joint venture with Aspen Vision Development Sdn. Bhd., to develop a 36-acre mixed-development project in Seberang Perai Tengah, Penang."
"This project will complement our diversified portfolio and enhance long-term growth prospects," Kerjaya chief executive officer and executive director Tee Eng Tiong said in a statement.
For the cumulative period ended Sep 30, 2024 (9MFY24), its net profit rose to RM116.73 million versus RM96.55 million, from a year ago.
It logged a higher revenue of RM1.24 billion compared to RM968.75 million last year.
"Moving forward, the group will focus on its construction segment to be the main revenue driver for the group.
"Notwithstanding the group's objective is to expand its core business in construction, the group intends to maintain its manufacturing segment to complement its core business," it said in a filing with Bursa Malaysia Securities.