KUALA LUMPUR (Feb 24): Protasco Bhd posted a net profit of RM20.2 million or 5.96 sen a share for the fourth quarter ended Dec 31, 2015 (4QFY15), compared to a net loss of RM4.07 million or 1.21 sen a share a year ago, contributed mainly by its construction segment.
 
In a filing with Bursa Malaysia today, the group said revenue rose 15.7% to RM455.89 million, from RM393.91 million, due to improved contributions from its maintenance, construction and  property development segments.

The latest quarterly filing marks its fourth profitable quarter after it slipped into losses in 4QFY14.
 
For the full FY15, net profit stood at RM66.24 million or 19.77 sen a share, compared to a net loss of RM46.44 million or 13.95 sen a share a year before.
 
Revenue, meanwhile, was 21.7% higher at RM1.29 billion, compared with RM1.06 billion in FY14.
 
“Our performance improved, because we stayed consistent and focused on our goals, and were not distracted by the hit we took in our overseas ventures in the previous year,” executive vice chairman and group managing director Datuk Seri Chong Ket Pen said in a separate statement.
 
Protasco expects to maintain its performance, despite signs of economic weakness globally and the challenges expected for the construction and property development industries.
 
“We expect to see the construction division continue to contribute positively to the bottom line, with the award of Phase 2 of Perumahan Penjawat Awam 1Malaysia (PPA1M) project,” Chong added.
 
Protasco expects to launch its Rimbawan Residences @ De Centrum project in March 2016 and is preparing to open its shopping mall, Gallerie @ De Centrum in April 2016.
 
The three-storey complex houses 29 retail units, catering for residents from 320 units of service apartments and 192 units of SOHOs, supported by 54 shoplots.
 
Protasco closed 4 sen or 2.74% higher at RM1.50 today, with 863,400 shares traded, giving it a market capitalisation of RM503 million.