Putrajaya Perdana Berhad

Construction arm of EnO posted another impressive quarterly result. By making a fast quarterly between quarter ended Mar'07 and Mar'06, revenue is increased from RM152mil to RM180mil. Net profit has increased ~RM4mil, from RM9.3mil to RM13.3mil.

Below are the notes found in the announcement to Bursa Malaysia:

Performace Review

The Group achieved a revenue of RM537.3mil for the financial year ended 31 Mar 07, representing an increase of 23% compared to the preceding financial year.
At the back of higher revenue recorded, the Group achieved a higher pre-tax profit of RM52.7mil representing an increase of RM7.3mil or 16% oer the pre-tax profit of RM45.5mil achieved in the preceding financial year.

Comment On The Results of Current Quarter Compared To Immediate Preceding Quarter

For the current quarter ended 31 Mar 07, the Group recorded a revenue of RM108.8mil and a profit before tax of RM18mil which represented an increase of 25% and 32% respectively as compared to the revenue of RM144.7mil and profit before taxation of RM13.6mil in the immediate preceding quarter.

Lastly, a final dividend in respect of the financial year ended 31 Mar 07, of 6.0 sen per share less 27 percent income tax will be proposed for shareholders' approval at the forthcoming AGM. This translates into a dividend of 11.0 sen for this financial year (interim dividend of 5.0 were paid).

The dividend payment looks interesting. However, the trading volume for this company remains very low with no major fluctuation to the share price, where it is traded within the range of RM1.90 to RM2.00 for the past few weeks.

Better result from P Perdana will surely contribute positively to EnO where it holds ~50% of P Perdana. Quarterly result of EnO will be due for release in this month as well. As EnO Prop will be recording higher revenue certainly, it should be a very good year for EnO.