PETALING JAYA: Marine & General Bhd (formerly known as SILK Holdings Bhd) posted a net profit of RM337.23mil for the second quarter (2Q) ended June 30, 2017, compared with a net loss of RM16.93mil in the corresponding period.
The net profit was attributable to the gain on the disposal of its highway infrastructure subsidiary, Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd, for RM382.82mil to Permodalan Nasional Bhd.
The gain resulted in Marine & General posting earnings per share of 48.07 sen in the second quarter, compared with a loss per share of 2.42 sen.
During the period in review, the company’s revenue fell 8% to RM37.82mil from RM41.23mil previously, due to the declining performance of its marine logistics – upstream division.
For the first half of 2017, Marine & General posted a net profit of RM321.25mil compared with a net loss of RM24.63mil while revenue fell 22% to RM68.52mil.
