HSS Engineering

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Quarterly Report For The Financial Period Ended 31 March 2017

Financials Archive
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Condensed Consolidated Statement Of Profit Or Loss And Other Comprehensive Income For The First Quarter Ended 31 March 2017



Condensed Consolidated Statement Of Financial Position As At 31 March 2017

Review of Performance

For the current quarter and current financial year to date under review, the Group recorded revenue of RM29.2 million. The Group’s revenue was mainly derived from engineering services and project management amounting to RM28.2 million. Local market continued to contribute significant portion of revenue amounting to RM28.8 million or 98.6% of the Group’s total revenue.

The Group registered a profit before taxation of RM4.5 million for the current financial quarter and current financial year to date under review.

Analysis of our revenue by activities is as follows:-



Analysis of our revenue by geographical locations is as follows:-



Notes:

[1] This is the fourth interim financial report announced in compliance with the Listing Requirements of Bursa Securities. There are no comparative figures for the preceding year’s corresponding quarter and year to date available as no interim financial report was prepared for the comparative financial period concerned.

N/A- Not applicable

Our unbilled order book as at 31 March 2017 amounted to RM383.0 million, details as follows:



The above unbilled order book will be billed progressively on average over the next two (2) to five (5) years.

Prospects

As disclosed in the Prospectus of the Company dated 29 June 2016, the Group has put in place a series of future plans as follows:-

[a] Geographical expansion into ASEAN, Middle East and India regions;
[b] Continuous enhancement on its three (3) existing core services (i.e. engineering services, project management and Building Information Modeling (“BIM”) services) and proposed venture into a fourth (4th) core service i.e. facility management; and
[c] Venturing into the provision of support services to the water and power generation sectors which are expected to continue receiving strong government support given their strategic importance to the country.

The Group expects to perform satisfactorily in the financial year 2017 given the strong order book, underpinned by the positive outlook in the construction industry both locally & regionally, driven largely by government continued spending on infrastructure projects.

Barring any unforeseen circumstances, the Board of Directors of the Company is of the opinion that the prospects for the remaining period to the end of the financial year ending 31 December 2017 will remain favourable.