Muhibbah Engineering (M) Bhd posted a higher pre-tax profit of RM21.3 million for its third quarter ended Sept 30,2010 compared to RM5 million in the previous corresponding quarter.
Despite an increase in profit, revenue fell to RM289.13 million from the RM610.94 million recorded previously. In a filing to Bursa Malaysia today, the group said its shipyard and cranes division continues to be the main earnings contributor to the group.
It currently has a total outstanding secured order book of RM2.78 billion which can last until 2013.
For its nine-month period ended Sept 30, 2010, it achieved a lower pre-tax profit of RM49.57 million, compared to RM53.01 million recorded previously. Revenue declined to RM1.162 billion from RM1.572 billion previously.
The group expects to achieve a satisfactory performance for its current fiscal year on the back of an improving sentiment in the global oil and gas industries.-- Bernama
