For the financial quarter under review, the Group's business activities from continuing operations were in property development, oil and gas services and investment holdings. The Group’s property development division comprises of the development of joint-venture property project in Taman Shamelin Perkasa and the redevelopment of a property in Central London. The Group’s oil & gas services division, entails the trading and supply of specialty chemicals, provision of logistics and chartering services, engineering and fabrication works. The Group's investment holdings comprise of holding of investment in shares of subsidiaries, associate and joint venture as well as management services and provision of financial assistance for companies within the Group.
Q3 FY2018 v Q3 FY2017
The Group recorded loss before taxation from continuing operations of RM2.67 million as compared to a profit of RM20.30 million for the individual Q3 FY2017 as we have sold most of the units in Shamelin Star since its completion in December 2016. Hence, the lower revenue base for Q3 FY2018.
Loss before taxation of RM1.01 million in oil & gas services division was due to lower profit recorded by ENRA Kimia Sdn Bhd ("EKSB") due to seasonal sales.
Investment holdings division showed a higher loss by RM0.44 million mainly from higher staff costs resulting from increment and higher number of headcounts necessary to support the long term growth of the Group.
YTD FY2018 v YTD FY2017
For the 9 months period ended 31 December 2017, the Group recorded a lower profit before taxation from continuing operations of RM1.37 million as compared to profit before taxation of RM29.23 million in last financial year, mainly caused by lower sales of residential units of Shamelin Star since its completion in December 2016.
For the remainder of FY2018, the Group is commited to complete the sales of its remaining unsold units in Shamelin Star and the sale and development of Portland Chambers in London and actively looking to replenish its land bank and development opportunities for its property development division.
Continuous efforts will be made to further grow the oil & gas services division including the successful chemical trading business.
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ENRA Group Berhad (236800-T)
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