KUALA LUMPUR - Eversendai Corp Bhd's saw a net loss of RM50.43 million for the first quarter ended March 31, 2016 from a net profit of RM19.4 million a year ago, mainly due to higher losses from fair value of financial assets and unrealised foreign exchange loss.
Without the foreign exchange loss, the specialist engineering and construction services provider would have seen a profit of RM24.2 million, it said.
It posted a revenue of RM440.73 million compared with RM402.78 million in the previous corresponding quarter.
Eversendai has a current order book of RM2.2 billion and the group is optimistic about its future prospects based on the announcement of several major projects secured in the first quarter of 2016.
The Middle East segment continues to drive the group's revenue by contributing 53.7% of the total revenue from their operations in the UAE, Saudi Arabia, Qatar and the Commonwealth of Independent States.
Source ↔ Listen MP3 Music
