Property News

Kerjaya Prospek records 21% jump in 4Q net profit, declares three sen dividend

On the property development segment, Kerjaya said development projects have contributed positively to the group’s results.
KUALA LUMPUR (Feb 28): Kerjaya Prospek Group Bhd’s (KL:KERJAYA) net profit rose 21% in the fourth quarter ended Dec 31, 2024 as progress of construction work activities improved.

Kerjaya’s net profit for the fourth quarter was RM43.42 million compared with RM35.74 million in the corresponding quarter.

Revenue for the quarter increased by 22% to RM598.07 million from RM489.04 million in the corresponding quarter. 

Kerjaya declared a dividend of three sen per share for the latest quarter.

According to a bourse filing on Friday, the increase in revenue was mainly because the progress of construction work activities has improved.

On the property development segment, Kerjaya said development projects have contributed positively to the group’s results.

Meanwhile, for the full year, Kerjaya reported a 21.76% rise in net profit to RM160.15 million while registering a higher revenue of RM1.84 billion compared with RM1.47 billion in the corresponding period. 

In the filing, the group said that moving forward, it will focus on its construction segment to be the main revenue driver. 

Kerjaya said its objective is to expand its core business in construction, and it intends to maintain its manufacturing segment to complement its core business.

At the time of writing, Kerjaya shares were up three sen or 1.4% at RM2.13, valuing the company at RM2.7 billion.

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Source: EdgeProp.my