Quarterly Results

Quarterly Report For The Financial Period Ended 30 September 2018

Financials Archive

Unaudited Interim Financial Statements For The Fourth Quarter Ended 30 September 2018

Condensed Consolidated Statement Of Financial Position

Condensed Consolidated Statement Of Profit Or Loss And Other Comprehensive Income

Review of performance

For the financial quarter under review, the Group's business activities from continuing operations were split into 4 segments:

  1. The Group’s property development division comprises projects in Malaysia and abroad

  2. The Group’s energy services division, entails the trading and supply of specialty chemicals, provision of logistics and chartering services

  3. The Group's engineering, construction and fabrication division provides engineering, construction and fabrication works

  4. The Group's investment holdings comprise of holding of investment in subsidiaries, associate and joint venture as well as management services and provision of financial assistance for companies within the Group

Q2 FY18/19 v Q2 FY17/18

For the quarter ended 30 September 2018, the Group recorded a loss before taxation from continuing operations of RM0.37 million as compared to profit of RM2.22 million mainly on lower contribution from property development and energy services division, and higher expenses in investment holdings and others.

Energy services division recorded a lower profit before taxation of RM2.21 million as compared to RM4.58 million in same quarter in previous year, mainly due to the absence of the one off gain of RM4.09 million from the derecognition of contingent payable for ENRA Engineering And Fabrication Sdn. Bhd. ("EEFAB") in the second quarter of previous financial year.

Meanwhile, engineering, construction and fabrication division showed a better performance with profit before taxation of RM0.98 million as compared to loss before taxation of RM0.18 million in previous year, owing to lower operating expenses and better profit margin from an engineering project.

YTD FY18/19 v YTD FY17/18

For the half year ended 30 September 2018, the Group recorded a slightly lower profit before taxation from continuing operations of RM3.50 million as compared to RM3.81 million in last financial year, mainly caused by lower profit contributed by property development.

Future prospects

The prospects of the Group's business segments are as follows:

  1. Property development

    For the FY18/19, the Group is focusing on completing the 93 Great Titchfield Street ("93 GTS" or "Portland Chambers") in Central London and selling the remaining unsold units in Shamelin Star in the second half of FY18/19. Meanwhile, the Group is also actively pursuing several property development opportunities in certain strategic locations in Malaysia and United Kingdom.

  2. Energy services

    The segment will remain as the leading revenue and earnings contributor to the Group in FY18/19. With global oil price hovering between USD60 - 70 per barrel and the resumption of capital expenditure programme by the energy players, this sector is expected to remain robust. With aggressive marketing strategies, improvement in supply chain management, prudent and responsible spending, the Group anticipates the current year performance to be satisfactory.

  3. Engineering, construction and fabrication

    This segment will continue to bid for contracts whenever the opportunity arises to enhance our order book and at the same time focus on the execution of existing projects. The Group will actively explore new sources of revenue growth to create more recurring and sustainable income in the future for this new segment.

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ENRA Group Berhad (236800-T)

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50480 Kuala Lumpur, Malaysia.

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