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Tasek Corp. reports rise in pre-tax profit in FY14

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World Cement,

Malaysia’s Tasek Corporation Bhd has reported its results for the final quarter and full year 2014. Pre-tax profit reached RM136.32 million, up from RM121.04 million in FY13. Revenue also rose, at RM656.06 million, attributed to improved demand from public infrastructure projects such as the MRT and light rail projects. These investments are likely to lead the construction sector in 1Q15.

In 4Q14, net profit grew 1.03% to RM27.55 million and revenue was up 11.6% at RM172.97 million.

"Despite the much higher net revenue, the group's profit after tax of RM27.6 million for the current quarter was only marginally higher than RM27.3 million achieved in the previous year's corresponding quarter mainly due to lower profit margins from the cement segment arising from intense price competition in the domestic market," the group said in a filing to Bursa Malaysia.

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