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PETALING JAYA: Taliworks Corp Bhd saw its revenue rising 23.8% year-on-year (y-o-y) to RM102.3mil while net profit grew 156% to RM41.4mil for its third quarter ended Sept 30, 2021 (Q3), mainly due to higher contribution from its toll division.
The infrastructure company, engaged in water treatment, supply and distribution, highway and toll management, waste management and construction and engineering, told Bursa Malaysia that its earnings per share in Q3 was 2.05 sen compared to 0.8 sen a year earlier.
The group announced a third interim single-tier dividend of 1.65 sen per ordinary share, amounting to RM33.3mil, with the ex-date on Nov 30, 2021 and payment on Dec 31, 2021. In financial year 2021, Taliworks has to-date declared a total dividend payout of 4.95 sen per share, translating to RM99.8mil.
“We preserve our approach to focus on mature operational cash-generating utilities and infrastructure businesses that will generate new income streams and provide recurring and stable source of cash flow to the group to support our dividend policy. The enhanced financial performance in this quarter under review reflected our resilient and sustainable business model, despite the economic challenges posed by the Covid-19 pandemic.
“We will continue our efforts to tender for infrastructure projects to replenish our order book, including participating in the tender for Sg Rasau Water Supply Scheme.
“Going forward, we are cautiously optimistic in having a full economic recovery, following the transition to phase four of the National Recovery Plan which began on Oct 18, and the reopening of the economic and social sectors,” said Taliworks executive director Datuk Ronnie Lim.
For the nine months under review, revenue dropped 5% y-o-y to RM229.8mil, due to lower revenue from the water treatment, supply and distribution segment.
However, net profit rose 51.4% y-o-y to RM66.3mil for the period as a toll compensation of RM43.5mil was received by its subsidiary Grand Saga Sdn Bhd from the government for the non-increase in scheduled toll hike in 2020. Earnings per share for the nine months was 3.29 sen versus 2.17 sen a year earlier.