English | 简体中文 | 繁體中文 | 한국어 | 日本語
Tuesday, 25 May 2021, 20:00 HKT/SGT

Source: Central Global Berhad
Central Global Berhad Posts 25% Rise in Revenue
- Manufacturing arm sees 48% revenue increase due to trading activities
- Construction segment up 10.7% over previous period

KUALA LUMPUR, May 25, 2021 - (ACN Newswire) - Main Market-listed Central Global Berhad ("CGB") recorded a 25.42% increase in revenue to RM37.56 million for the first quarter ended 31 March 2021 ("1Q2021") compared to RM29.95 million recorded in the same quarter of the previous year.

CGB executive chairman Dato' Faisal Zelman

The Group registered a loss before tax ("LBT") of RM1.03 million for 1Q2021 compared to a profit before tax ("PBT") of RM760,000 in the corresponding quarter of the previous year. On a segmental basis, CGB's manufacturing arm recorded a 48.3% increase in revenue to RM17.36 million compared to the RM11.7 million recorded in the same quarter of the previous year while the construction arm registered a 10.7% increase in revenue to RM20.2 million compared to the RM18.24 million recorded in the corresponding quarter of the previous year.

For 1Q2021, CGB's manufacturing arm registered RM510,000 in PBT from LBT of RM139,000 in the corresponding quarter of the previous year due mainly to higher revenue contribution from trading of industrial tapes and label stocks. For the quarter under review, the construction arm recorded LBT of RM938,000 compared to PBT of RM1.05 million in the same quarter of the previous year mainly due to lower contribution from two projects located in Penang that were completed and handed over in 1Q2021.

CGB executive chairman Dato' Faisal Zelman said: "We continue to be upbeat about the Group's outlook despite the challenges posed by the rise in COVID-19 infections and its impact on business sentiment. The plans that we shared publicly are being implemented and we are confident that these plans will benefit the Group."

"The approval by Bursa Malaysia Securities Berhad of our proposed private placement of 18 million new shares in late April will help these plans along. As we have shared, we intend to upgrade our manufacturing arm's capacity as well as fund an existing construction project in Penang. We have also clinched an RM101 million construction project in Lahad Datu, Sabah that will substantially boost the construction arm's contribution to financial performance in the coming quarters. The manufacturing arm continues to take advantage of the change in market structure arising from a more fragmented competition landscape while the continued supply-chain disruption arising from pandemic lockdowns has given us the opportunity to penetrate the domestic market further."

"The surge of COVID-19 infections has certainly been worrying and we are monitoring the situation as it unfolds. We continue to adhere to all standard operating procedures to ensure the safety and health of our employees, vendors and customers."

Please contact below for more information:
Hakim Juraimi
Tel: +60 12-318 5410
Email: h.juraimi@swanconsultancy.biz

Topic: Earnings
Source: Central Global Berhad

Sectors: Daily Finance, Construct, Engineering, Local Biz
From the Asia Corporate News Network

Copyright © 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Central Global Berhad Releated News
Aug 25, 2021 18:00 HKT/SGT
Central Global Bhd Signs MoU with Smart Sabah for Construction of State Ministry of Finance's Dashboard
Aug 16, 2021 09:00 HKT/SGT
Central Global Berhad Increases Production Capacity by 250% to Meet Fresh Demand
July 23, 2021 11:30 HKT/SGT
Central Global Continues with Proactive Business Sustainability Measures Despite Lockdown
June 24, 2021 16:00 HKT/SGT
Central Global Berhad Makes Two Board Appointments
June 22, 2021 18:00 HKT/SGT
Central Global Berhad Seeks Strategic Partnerships for Construction Projects
More news >>
Copyright © 2022 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575