KUALA LUMPUR: Central Global Bhd
(CGB) has returned to the black with a internet revenue of RM1.89mil in the first quarter ended March 31, in opposition to a internet lack of RM1.03mil a yr go.
The development and masking tape producer’s income for the quarter rose 25.25% to RM47.04mil from RM37.6mil a yr earlier.
It mentioned income from the development phase elevated to RM31.06mil in the first quarter as in contrast to the corresponding quarter final yr of RM20.2mil.
The improve in income was primarily attributable to the newly secured venture, RYRT Lahad Datu Phase 1 Water Supply System and the accelerated work progress on the Montage venture.
Consequently, the development phase recorded a revenue earlier than tax (PBT) of RM1.98mil for the present quarter as in contrast to a loss earlier than tax (LBT) RM940,000 in the corresponding quarter final yr.
Meanwhile, the manufacturing phase made up the remaining 34% or RM15.99mil of the group’s whole income as in contrast to RM17.36mil final yr. The decrease income recorded throughout the reporting interval was primarily due to the drop in export gross sales.
CGB group managing director Chew Hian Tat mentioned its steady efforts to flip a revenue have lastly borne fruit after a number of years of being in the crimson.
“This is in part due to our new business strategy to pivot our focus to the
construction segment in the past year.
“Moving forward, we will continue to focus on completing the on-going projects in hand namely the Montage project and the Lahad Datu Phase 1 Water Supply System project and the finalising of the final account for the completed Beacon Executive Suite and Eco Horizon projects,” he mentioned.
He added that it might additionally start the execution of its newly secured initiatives specifically the Quinton condominium, and the constructing service work for Sri Bayu condo and the Montage condominium.
“As the construction segment in Malaysia is expected to remain challenging, we have taken a precautionary measure by reorganising our internal structure to enhance our efficiency and productivity while simultaneously optimising our cash flow,” Chew mentioned.
“Having said that, our heightened focus on the construction segment doesn’t mean that the manufacturing segment is neglected. We’re expecting additional mixers to arrive this month which would result in an increase of our mixing output volume by 20% to 215 metric tons monthly from our current capacity of 179 metric tons monthly,” he added.
Barring any unexpected circumstances, CGB is cautiously optimistic that it’s going to proceed to generate passable efficiency for the remainder of the monetary yr.
