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NewsPanasonic 1Q profit falls 10.9% to RM16m
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Panasonic 1Q profit falls 10.9% to RM16m
by Cals Wed 21 Aug 2013, 23:56
Panasonic 1Q profit falls 10.9% to RM16m
Business & Markets 2013
Written by Jeffrey Tan of theedgemalaysia.com
Wednesday, 21 August 2013 19:38
KUALA LUMPUR (August 21): Panasonic Manufacturing Malaysia Bhd's net profit fell 10.9% year-on-year in the first quarter ended June 30, 2013 (1QFY14).
Panasonic, a consumer electronic products manufacturer, attributed the lower net profit to higher operating expenses and lower share of profit from an associate. This is despite higher revenue during the quarter, it said in a statement to Bursa Malaysia.
Panasonic said net profit fell to RM16.02 million in 1QFY14 from RM17.99 million while revenue climbed to RM219.2 million from RM209.7 million on higher sales of fan roducts in the domestic market.
Looking forward, Panasonic sees keen competition in certain export markets for home appliances. However, robust sales of fan products in the domestic market are expected to cushion the impact.
Meanwhile, the group is committed to develop new products suited to market tastes and preferences and improve its production efficiency.
Business & Markets 2013
Written by Jeffrey Tan of theedgemalaysia.com
Wednesday, 21 August 2013 19:38
KUALA LUMPUR (August 21): Panasonic Manufacturing Malaysia Bhd's net profit fell 10.9% year-on-year in the first quarter ended June 30, 2013 (1QFY14).
Panasonic, a consumer electronic products manufacturer, attributed the lower net profit to higher operating expenses and lower share of profit from an associate. This is despite higher revenue during the quarter, it said in a statement to Bursa Malaysia.
Panasonic said net profit fell to RM16.02 million in 1QFY14 from RM17.99 million while revenue climbed to RM219.2 million from RM209.7 million on higher sales of fan roducts in the domestic market.
Looking forward, Panasonic sees keen competition in certain export markets for home appliances. However, robust sales of fan products in the domestic market are expected to cushion the impact.
Meanwhile, the group is committed to develop new products suited to market tastes and preferences and improve its production efficiency.
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