KUALA LUMPUR, Aug 26 — IJM Corporation Bhd’s net profit for the first quarter ended June 30, 2020 dropped to RM1.27 million from RM59.42 million registered in the same quarter last year.
Revenue fell to RM879.80 million from RM1.54 billion previously, the group said in a filing to Bursa Malaysia today.
It said the weaker result was due to the implementation of the movement control order (MCO) beginning on March 18, 2020.
“The other countries in which the group operates have also implemented similar control measures which have materially impacted the group’s business operations,” it said.
The group expects the current financial year to be challenging with outcomes largely dependent on the duration of the Covid-19 pandemic, economic recoveries, political situations and resolution of trade wars.
“The group anticipates disruptive implications on the overall market environment, together with the uncertainty of commodity prices and volatility of foreign exchange rates,” it said. — Bernama
