Monday 25 August 2014

Favelle Favco’s Q2 pre-tax profit jumps to RM36.1 million

Favelle Favco Bhd's pre-tax profit more than doubled to RM36.1 million for the second quarter ended June 30, 2014, from RM14.7 million chalked up in the corresponding quarter last year.

The industrial crane maker chalked up a higher revenue of RM248.8 million during the period under review, from RM165.7 million recorded previously, it said in a filing to Bursa Malaysia today.

"As at Aug 20, 2014, the group's outstanding order book stood at RM10.2 billion with oil and gas (O&G) cranes for offshore O&G exploration and production activities making up the majority of the contracts secured.

"Remaining contracts are from the shipyard, construction and wind turbine industry. This is an all-time high to the group," it added. – Bernama