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Beng Kuang Marine back in the black with 9MFY2022 earnings of $1.02 million

Beng Kuang Marine shares closed Nov 25 at 5.3 cents

Beng Kuang Marine has reported earnings of $1.02 million for 9MFY2022 ended Sept, versus a loss of $3.69 million in the year earlier period.

Revenue in the same period was up from $39.5 million to $43.9 million.

The revenue growth was driven by the company’s infrastructure engineering segment, which contributed $17.6 million, or 62% of the total.

CEO Yong Jiunn Run says that while the profit generated is still “small”, it shows that the company is on the right track and the company is benefiting from its business strategies and initiatives.

“With a robust asset-light business model and disciplined-cost approach, we aim to improve our business agility that will enable us to pursue our profitable and sustainable growth strategy via our high-potential business segments,” he adds.

Beng Kuang Marine shares closed Nov 25 at 5.3 cents, unchanged for the day, and down 33.75% year to date.

 

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