Cambodia power plant boosts Mega First 1Q net profit to RM57.4m

Mega First Corporation BHD reported first quarter net profit of RM57.40mil, boosted by energy sales revenue from the Don Sahong project in Cambodia which was completed in early of the fourth quarter last year.

Mega First said on Thursday the net profit increased by 70.5% from RM33.65mil a year ago. Its revenue however fell by 27.5% to RM160.68mil from RM221.84mil. Earnings per share were 13.49 sen compared with 8.48 sen.

It said the lower revenue was mainly due to the absence of construction revenue (1Q2019: RM169.9mil), mitigated by RM103.3mil energy sales revenue (1Q2019: Nil), and higher contributions from the resources division and the packaging & labels division.

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