KNM posts higher Q3 profits on greater cost savings
Published on 25 Nov 2020. | Source: thestar.com.my
KUALA LUMPUR: KNM Group Bhd registered increased profits in the three-month ended Sept 30, as greater savings on operating costs boosted margins despite a drop in revenue.
The fabrication company posted a net profit of RM18mil in the third quarter compared with RM10.6mil made a year ago.
Revenue fell to RM321mil from RM448mil previously, the company told the stock exchange today.
"The Board anticipates that the outlook for financial year ending Dec 31, 2020 will remain challenging due to the continuous uncertainties in the global economy outlook and impacts of COVID- 19 pandemic," it said.
"The Board will take the necessary measures to manage and mitigate these uncertainties," it added.
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