AbleGroup Berhad announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenue of MYR 2,830,000 compared to MYR 1,384,000 a year ago. Loss before tax from continuing operations was MYR 527,000 compared to MYR 244,000 a year ago.

Loss attributable to equity holders of the parent company was MYR 527,000 compared to MYR 244,000 a year ago. Basic and diluted loss per share from continuing operations attributable to equity holders of the parent company was 0.20 sen compared to 0.093 sen a year ago. Net cash used in operating activities was MYR 2,691,000 compared to MYR 1,059,000 a year ago.

Purchase of property, plant and equipment was MYR 129,000. The increase in revenue is due to commencement of works for two large contracts. Profits recognised in current quarter is not significant as the projects are at its initial stage of commencement.