KNM back to the black for FY2012

KNM Group Bhd posted a pre-tax profit of RM69.05 million for the financial year ended December 31, 2012, as compared to a pre-tax loss of RM155.88 million in 2011.

Revenue surged to RM2.37 billion from the RM1.96 billion recorded
previously, the company said in a filing to Bursa Malaysia today.

"The positive results this year are due to higher job progress recognition on a stronger order book and stable contribution margin from projects.

"The Asia and Oceanic segment has continued to contribute positively and has recorded a marked turnaround compared to the immediate preceding year," it added.

For the next financial year, the board is expected to focus on cost efficiency and productivity initiatives for the Asia and Oceanic segment, while the European segment profitability is expected to continue with its order book carried forward into 2013.-- Bernama