Crescendo Corporation Berhad announced unaudited consolidated earnings results for the first quarter ended April 30, 2016. For the period, the company reported revenue of MYR 48,292,000 against MYR 55,739,000 a year ago. Profit before tax was MYR 10,274,000 against MYR 16,011,000 a year ago. Profit attributable to owners of the company was MYR 6,459,000 or 2.31 sen per basic share against MYR 9,809,000 or 4.31 sen per basic share a year ago. Net cash used in operating activities was MYR 33,553,000 against MYR 160,000 a year ago. Acquisition of biological assets and property, plant and equipment was MYR 2,976,000 against MYR 1,075,000 a year ago. The decrease in revenue was mainly due to lower concrete products sales. The PBT for current quarter increased by 36% mainly contributed by higher margin properties and concrete products sales.

The company expects the performance of the Group to remain satisfactory for the financial year ending January 31, 2017.