KNM Group Bhd reported unaudited consolidated financial results for the first quarter ended Mar. 31, 2016. For the quarter, the company reported operating profit of MYR 30,205,000, profit before tax of MYR 19,522,000 and net profit for the period of MYR 10,582,000 or 0.51 sen per diluted share on contract revenue of MYR 397,072,000 against operating profit of MYR 66,662,000, profit before tax of MYR 53,908,000 and net profit for the period of MYR 34,791,000 or 2.17 sen per diluted share on contract revenue of MYR 344,377,000 for the same period of last year. Net cash from operating activities was MYR 50,743,000 against MYR 20,329,000 for the same period of last year. Purchase of property, plant and equipment was MYR 5,646,000 against MYR 15,190,000 for the same period of last year. The higher revenue was due to higher project percentage of completion of recognised by Asia & Oceanic and Europe segments. The lower profit before tax was mainly due to recognition of one off gain arising from disposal of Australian operations in the corresponding quarter last year.

The company's board is confident that the group will remain profitable for the remaining 2016 financial year barring any unforeseen circumstances.