Wednesday, 30 May 2018
Kumpulan Perangsang Selangor records 24.7% revenue growth in 1Q18
- Driven by higher contributions from CBB and KPS-HCM
Kuala Lumpur, Malaysia, 30 May 2018 – Diversified group Kumpulan Perangsang Selangor Berhad(KPS, Bursa: 5843; Bloomberg: KUPS:MK; Reuters: KPSB.KL) revenue in the first quarter ended 31 March 2018 (“1Q18”) rose 24.7% to RM95.8 million from RM76.8 million a year ago, on better contributions from its manufacturing and infrastructure and utilities businesses.
KPS’s revenue growth of 24.7% was led by higher contribution from cement packaging provider Century Bond Bhd (“CBB”) of RM44.0 million, from RM39.6 million a year ago. CBB also made up majority of the Group’s 1Q18 revenue with 45.9% contribution, followed by the Group’s trading business of Aqua-Flo Sdn Bhd (“Aqua-Flo”) raking in 4.3% higher sales to RM26.3 million, making up 27.4% of the Group’s revenue contribution.
Under the KPS’s infrastructure and utilities segment, 51% subsidiary KPS-HCM Sdn Bhd reported revenue of RM15.0 million or 15.6% of 1Q18 group revenue, as it delivered ongoing works for the RM174.4 million contract to develop Phase 3C of Pulau Indah Industrial Park. The 18-months project is scheduled to be completed by January 2019.
The licensing segment via King Koil Licensing Company Inc., (‘’King Koil®’’) reported sales of RM7.8 million or 8.1% of group 1Q18 turnover. The remaining RM2.8 million revenue comprised of the Group’s investment holding segment.
KPS Chief Executive Officer, Ahmad Fariz Hassan said:
“The steady growth in domestic and regional business despite the challenging global economic climate attest to the resilience of our investee companies.
The additional earnings contribution from our latest acquisition of CPI (Penang) Sdn Bhd (“CPI”) from second quarter of 2018 would elevate us to another level, complementing our relentless pursuit of more sales order contracts across our existing businesses”
The one-off financial charges incurred for the acquisition of CPI coupled with higher raw material cost in the manufacturing and trading segment resulted in KPS’ recording RM13.2 million in profit attributable to shareholders after tax, lower compared to the previous year of RM20.2 million.
On 3rd May 2018, Aqua-Flo secured a contract extension of RM25.1 million for the supply and delivery of chemicals to PNSB Water Sdn Bhd, Konsortium ABASS Sdn Bhd and Konsortium Air Selangor Sdn Bhd. With this, the supply contract is extended for five and half months from 16 May 2018 to 31st October 2018.
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About Kumpulan Perangsang Selangor Berhad (www.kps.com.my)
Incorporated in August 1975, Kumpulan Perangsang Selangor Berhad (“KPS” or the “Company”) is a public limited liability company listed on the Main Market of Bursa Malaysia Securities Berhad. The Company has a varied investment portfolio with assets involved in Manufacturing, Trading, Licensing, Infrastructure and Utility, Oil and Gas as well as Telecommunications. KPS is committed towards making significant contributions to human capital, intellectual, and sustainable developments, whilst strengthening its core businesses to optimise returns for its shareholders.
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