Eversendai upbeat on recovery with RM5.7bil order book

KUALA LUMPUR: Eversendai Corp Bhd said its recovery is underway, backed by an outstanding order book of RM5.7bil and ongoing efforts to reorganise resources, optimise costs and improve operational efficiency.

The group said its projects in Saudi Arabia, including the Trojena Ski Village at Neom and the Qiddiya Speed Park, as well as the DLF Taramani project in India and various developments in Southeast Asia, are progressing well.

It added that the fabrication tonnage from these projects is keeping all its facilities running at optimal capacity.

“The group is optimistic of its future prospects to achieve improved financial performance progressively,” Eversendai said in the notes accompanying its financial results.

For the second quarter ended June 30, Eversendai’s net profit jumped fourfold to RM12.1mil, or 1.56 sen per share, lifting first-half earnings to RM14.6mil.

Quarterly revenue nearly doubled to RM550.6mil, driving first-half revenue up 41.7% to RM956.9mil.