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25-10-2007 (source: The Edge Daily)
Melati Ehsan posts RM27m full-year net profit

KUALA LUMPUR: Turnkey construction specialist and property developer Melati Ehsan Holdings Bhd posted a net profit of RM27.1 million for its financial year ended Aug 31, 2007 on the back of RM173.4 million in revenue.

Its earnings per share (EPS) stood at 36.84 sen and it proposed a dividend of 7.5 sen per share. For the fourth quarter, it recorded a net profit and revenue of RM11.3 million and RM79.9 million respectively.

In a statement yesterday, it attributed the results to the progressive billing of various high-value projects it was currently working on, namely the Trans Eastern Kedah Interland Highway and flood mitigation project at Kawasan Bertam-Kepala Batas in Penang with a contract value of RM287 million and RM168.8 million respectively.

Its managing director Datuk Yap Suan Chee said Melati's construction management services, value engineering and skills of its team contributed to the group's order book of RM1.7 billion, which had increased by 41% since its initial public offering, while more than 80% of the order book was still unbilled.

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