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Quarterly Report For The Financial Period Ended 31 March 2018

Financials Archive

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Condensed Consolidated Statements Of Profit Or Loss For The First Quarter Ended 31 March 2018 - Unaudited

Balance Sheet

Condensed Consolidated Statements Of Financial Position At 31 March 2018 - Unaudited

Income Statement

Condensed Consolidated Statement Of Cash Flows For The First Quarter Ended 31 March 2018 - Unaudited

Cash Flow

Review of Performance of the Company and its Principal Subsidiaries

review_01

For the current financial quarter under review, the Group achieved higher revenue amounting to RM21.38 million as compared to RM19.42 million for the same period in the preceding year or an increase of 10%. Loss before taxation of RM8.67 million was recorded in the current quarter as compared to loss before tax of RM4.24 million for the same period in the preceding year substantially attributed by the unrealised loss on foreign exchange in the current quarter.

In the Constructions Division, revenue recorded in the current financial quarter was higher by 13% as compared to the same period in the preceding year. Lower gross profit due from projects had resulted the Division to record a loss before tax of RM1.17 million as compared to profit before tax of RM1.70 million for the same period in the preceding year.

The Property Development Division has recorded a loss before tax of RM4.67 million as compared to loss before tax of RM2.21 million for the same period in the preceding year due to unrealised loss on foreign exchange in the current quarter.

In the Concessions Division, revenue and profit before tax was RM348,000 and RM1.30 million as compared to RM401,000 and RM1.51 million respectively for the same period in the preceding year.

In the Trading and Services Division, revenue was higher by 3% as compared to the same period in the preceding year. The Division recorded a loss before tax of RM890,000 as compared to loss before tax of RM1.62 million for the same period in the preceding year due to gain on disposal of assets in the current quarter.

Prospect

In the Construction Division, Salcon’s outstanding order book of RM550 million as at 31 March 2018 remains healthy and is expected to sustain over the next two years. Based on our track record and expertise in the water and wastewater sector, we look forward to replenish our order books via competitive tenders for both governmental and private sector-led jobs.

The Technology Services division led by our subsidiary Volksbahn Technologies Sdn Bhd (VBT) has improved its performance this quarter and is expected to contribute positively to the Group’s earnings this year.