PETALING JAYA: WCT Holdings Berhad, an investment holding company with businesses in engineering and construction, property development, and investmen...
WCT Holdings Berhad, an investment holding company with businesses in engineering and construction, property development, and investment in and management of retail malls and hotels, recorded revenue of RM376 million in the second quarter ended June 30, 2024 as compared to RM424 million in the preceding year’s corresponding quarter which ended on June 30, 2023 .
Cumulatively, the Group recorded higher revenue of RM844 million for the first six months ended June 30, 2024 , compared to RM829 million in the corresponding period of the previous year . The Group’s Engineering and Construction Division maintained its performance during the current period, contributing 56% of the Group’s consolidated revenue with a total of RM473 million . The lower revenue in 2QFY24 was mainly due to slower construction progress. The Division reported an operating profit of RM43 million as compared to RM23 million recorded in 2QFY23.
The operating profits of the Group’s Property Investment and Management Division increased to RM64 million on the back of higher revenue of RM126 million . The higher profit and revenue are attributed to higher occupancy and rental rates for WCT’s malls and higher contribution from its hotels.
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