KUALA LUMPUR (Feb 27): Destini Bhd’s net profit for the fourth quarter ended Dec 31, 2016 (4QFY16) grew 26% to RM11.99 million from RM9.53 million a year ago, with higher demand for its maintenance, repair and overhaul (MRO) and marine manufacturing services. Revenue climbed almost in tandem by 27% to RM115.44 million from RM90.86 million, Destini said in a bourse filing today. For its full year, Destini's net profit climbed 57% to RM33 million from RM21.08 million in FY15, as revenue gained 31% to RM354.43 million from RM270.06 million. Rozabil added that Destini is now able to take on the fabrication of a wide array of paramilitary vessels, apart from providing MRO services to these vessels. Going forward, Destini plans to further strengthen its aviation business by expanding its MRO capabilities to include servicing defence aircraft body frames, engines, telecommunication systems, avionics and weapon systems.

Source: The Edge Markets February 27, 2017 12:33 UTC