Kuala Lumpur, May 23, 2012 – Eversendai Corporation Berhad (the “Group”), a leading and well established integrated structural steel turnkey contractor, has begun 2012 by reporting another stellar quarterly financial results ended 31 March 2012.
For the quarter ended 31 March 2012, the Group reported a revenue and profit after tax of RM248.96 million and RM29.76 million, respectively. Revenue and profit after tax of the Group increased by 19.8% and 16.8%, respectively as compared to corresponding quarter ended 31 March 2011 of RM207.85 million and RM25.48 million, respectively.
Dato’ A K Nathan, Executive Chairman and Group Managing Director of the Group, said: “We are very pleased to report yet another set of solid financial results this quarter. Overall, performance has been consistent with the outlook given at the time of the 2011 full-year results. Our current strong order book of RM1.9 billion and this supported by strategic wins in both the domestic and international businesses and growth verticals, continues to give us good visibility in FY2012 and into FY2013.”
“The underlying fundamentals of our industry and particularly in the markets that we operate in remain very sound, with countries in the region continuing to roll out major infrastructure projects. In the Middle East, India and in Malaysia, there is a healthy pipeline of potential commercial projects which we are actively pursuing,” added Dato’ A K Nathan.
It should be noted that for the first quarter ended 31 March, 2012, 72.5 % of the Group’s revenue was from its Middle East operations in United Arab Emirates (UAE), Saudi Arabia and Qatar.
The current major on-going projects of the Group are in the Middle East includes the King Abdullah Petroleum Studies and Research Centre (KAPSARC) and Capital Market Authority Towers (CMA) in Saudi Arabia, Qatar Faculty of Islamic Studies and Erhama bin Jaber Al