I will slowly accumulate WCT-WC at 0.46.

WCT Holdings profit up 2.4% to RM41mil

KUALA LUMPUR: WCT Holdings Bhd’s third quarter 2013 net profit rose 2.4% to RM41.32mil from RM40.35mil a year ago backed by its civil engineering and construction segment.

However its revenue for the period fell 5.2% to RM418.5mil ftom RM441.79mil a year ago. Earnings per share dropped to 3.78 sen from 4.27 sen a year ago.

For its nine months 2013, its earnings rose 17% to RM141.18mil from RM119.89mil while revenue was up 17.9% to RM1.391bil from RM1.18bil a year ago.

In a Bursa filing on Thursday, the group said its civil engineering and construction segment posted revenue and operational profit of RM935mil and RM122mil each.

“The increase in operating profit in attributable to higher contribution from local division,” it said.

WCT said its property development and investment segments posted a revenue and operational profit of RM456mil and RM103mil each from higher sales in its property launches.

“With continuous implementation of the Economic Transformation Programme by the Malaysian Government, the group is confident to achieve satisfactory results for the financial year ending Dec 31, 2013,” it said.