[MITRAJAYA HOLDINGS BHD，南非投资的收入贡献将减少，建筑材料和人工成本不断上升]
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For the first quarter ended 31 March 2018, the Group's revenue decreased by RM26.37 million (9.0%) to RM265.06 million from RM291.43 million as reported in the preceding year's corresponding quarter. Correspondingly, the Group's profit before tax reduced substantially by RM14.12 million (37.5%) from RM37.66 million to RM23.54 million in the current quarter under review. Profit margin has reduced to 8.9% in this current quarter compared to 12.9% in the preceding year's corresponding quarter. This was mainly due to reduction in profit contribution from Construction division.
The Construction division's revenue has decreased by RM20.47 million (8.3%) to RM225.29 million from RM245.76 million in the preceding year's corresponding quarter. The profit before tax has decreased substantially by RM10.20 million (51.9%) from RM19.66 million to RM9.46 million in the current first quarter.
The profit before tax margin has reduced to 4.2% in current first quarter as compared to 8.0% in the preceding year's corresponding quarter. The reduction is attributable to lower profit margin from the current on-going projects as compared to projects completed in the past 2 years and generally due to the escalating cost of some construction material and labour cost.
The Property development division has contributed lower revenue of RM37.45 million in the first quarter of 2018, a decrease of RM4.60 million(10.9%) as compared to RM42.05 million in the preceding year corresponding quarter. The profit before tax has decreased slightly by RM1.51 million to RM13.45 million as compared to RM14.96 million in the preceding year corresponding quarter.
South Africa Investment:
For the first quarter ended 31 March 2018, their property project in South Africa has contributed lower revenue of RM2.20 million, RM1.42 million(39.2%) lower as compared to RM3.62 million in the preceding year's corresponding quarter. Correspondingly, profit before tax decreased by RM1.29 million(75.3%) to RM0.42 million from RM1.71 million in the preceding year corresponding quarter.
The Group's revenue in the current quarter has decreased slightly by RM4.23 million (1.6%) to RM265.06 million from the preceding quarter's revenue of RM269.29 million. Correspondingly, the Group's profit before tax has decreased slightly by RM0.59 million (2.4%) from RM24.13 million to RM23.54 million in the current quarter.
The Construction division will continue to contribute significant revenue and profits to the Group on the back of its outstanding orderbook of RM1.47 billion. The current unbilled sales for Property Development division amounts to RM165.07 million and will contribute positively to the Group in 2018 and 2019. The Group expect slower revenue contribution from their investment in South Africa in 2018 as all vacant stands and 22 units completed bungalow houses are fully sold.
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