KUALA LUMPUR: Vivocom Intl Holdings Bhd returned to black in the second quarter (2Q) ended June 30, 2016 with pre-tax profit surging to RM32.29 million, compared with a pre-tax loss of RM1.46 million in the same quarter of last year.
Revenue also soared to RM121.56 million from the RM8.64 million registered in Q2 last year, the company said in a filing to Bursa Malaysia. In a statement, the company attributed the solid performance to its construction division, which contributed 77.4 per cent of total revenue.
“The group has secured contracts and the order book is estimated to be around RM2 billion, with more projects still to come soon,” the company added.
In another development, Vivocom shareholders approved the company’s proposed one for four Bonus Issue. Executive director Choo Seng Choon said the bonus issue would be fully completed by early this month.
“It will increase the company’s issued and paid-up share capital to a level which is more reflective of the current scale of operations and assets,” he added.
