Revenue for 1Q2016 increased 14.8% to RM68.8 million from RM59.9 million in 1Q2015

 
PETALING JAYA, March 31 (Bernama) -- Integrated renewable energy developer and green engineering solutions provider, Cypark Resources Berhad (Cypark) today announced that the Group's revenue for 1Q2016 increased by RM8.9 million or 14.8% to RM68.8 million as compared to RM59.9 million  recorded  in  1Q2015 due  to  the  increase  in  income  from environmental  engineering  works.
 
The profit before tax for 1Q2016 increased by RM2.3 million or 23.1% to RM12 million from RM 9.7 million as recorded in 1Q2015. This was mainly due to the decrease in finance costs and favourable foreign exchange movement of RM against USD in current quarter. The Group’s profit after tax also increased significantly by RM1.7 million or 19.6% to RM10.2 million from RM8.5 million in 1Q2015.
 
The revenue for Environmental Engineering Division increased substantially by RM8.5 million or 29.4% to RM37.3 million in 1Q2016 as compared to RM28.8 million recorded in 1Q2015. This was mainly due to the increase in activities of the environmental engineering works. In line with the increase in revenue, the profit before tax in current quarter also increased substantially by 28.7%% to RM7.4 million from RM5.7 million in 1Q2015.
 
The  revenue  for  Maintenance Division increased  significantly  by  47.1% or  RM0.7  million  to  RM2.2  million  from RM1.5 million in 1Q2015. This was mainly due to the tipping fees generated from the landfill operation at Ladang Tanah Merah site, which came into operation in 1Q2016.
 
The  revenue  for  Renewable  Energy  Division  increased  by  7.7%  to  RM9.2  million  in  1Q2016  from  RM8.5 million  in  1Q2015.  The  profit  before  tax  also  increased  by  43.4%  or  RM0.4  million  to  RM1.2  million  in current quarter from RM0.8 million in 1Q2015. The increase is mainly due to the increase in export capacity of green electricity to 30.3MW as compared to 29.3MW in 1Q2015 and also the saving achieved in finance costs.
 
 

Cypark Resources Berhad (“Cypark” or the “Company”) was listed on the Main Market of Bursa Malaysia Securities Berhad on 15 October 2010 with the stock name of “Cypark”, and stock code of “5184”.
 
Cypark is primarily an environmental technology and engineering specialist focusing on the area of integrated renewable energy, waste management solutions, and environmental remediation. The company has in depth experience and proven technology to remediate, manage and transform contaminated sites into sustainable, beautiful and manageable fields, for a better and safer living environment. The company has also developed expertise and technical know-how to generate renewable energy (RE); especially on remediated sites, turning them into Integrated Renewable Energy Parks allowing waste biomass, landfill gas and solar rays to be harnessed to produce green energy.
 
The Company provides environmental solutions focusing on the area of waste management, renewable energy generation, scientific closure and remediation of contaminated land through internally developed technology called (“COLARIS”), landfill restoration, ground water assessment, remediation, and information system called (“GARIS”), environmental monitoring and management, as well as wastewater treatment.
 
Some of the major environmental transformation projects it has undertaken include the restoration of a disused mining land into a public park in Cyberjaya and scientific closure of 17 landfill sites nationwide. As a front runner in integrated renewable energy, Cypark is the proud recipient of ASEAN Energy Award (2014), Power & Electricity Award (Asia) - Solar Project of the Year 2013, Asian Power Awards – Power Utility of the Year 2012 (Malaysia) and has also been awarded by Malaysia Book of Records for the following accolades:

 
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SOURCE :  Cypark Resources Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name : Mohd Helmey Abd Kadir (Mr)
Tel : +6 03 7660 6170 / +6 03 7954 0208        
Email : marketing.pr@crbenv.com 
 

--BERNAMA