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SILK profit rises on higher revenue
by Cals Sun 22 Sep 2013, 19:07
ublished: Saturday September 21, 2013 MYT 12:00:00 AM
Updated: Saturday September 21, 2013 MYT 9:22:14 AM
SILK profit rises on higher revenue
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Azlan s ays the company continues to grow its business despite a fairly tight economy.
KUALA LUMPUR: SILK Holdings Bhd’s pre-tax profit for the financial year ended July 31, 2013 advanced to RM26.4mil from RM17.3mil a year earlier.
Revenue increased to RM383.3mil from RM341.1mil previously, it said in a statement.
However, for the fourth quarter its pre-tax profit declined to RM3.2mil from RM4.9mil due mainly to increased finance costs and depreciation charges.
Its chairman Datuk Mohd Azlan Hashim said the company continued to grow its business despite a fairly tight economy.
Barring any unforeseen circumstances, Azlan said, the board was confident that traffic volume at the highway infrastructure division would continue to grow in line with increased development in the vicinity it served.
Moving forward, he said the board expected the highway infrastructure division would continue to record accounting losses due to the existing high finance and amortisation costs.
“However, the board also expects the division to remain cash-flow positive on an operational basis as a result of the restructuring of the long-term debt,” he said. — Bernama
Updated: Saturday September 21, 2013 MYT 9:22:14 AM
SILK profit rises on higher revenue
[You must be registered and logged in to see this image.]
Azlan s ays the company continues to grow its business despite a fairly tight economy.
KUALA LUMPUR: SILK Holdings Bhd’s pre-tax profit for the financial year ended July 31, 2013 advanced to RM26.4mil from RM17.3mil a year earlier.
Revenue increased to RM383.3mil from RM341.1mil previously, it said in a statement.
However, for the fourth quarter its pre-tax profit declined to RM3.2mil from RM4.9mil due mainly to increased finance costs and depreciation charges.
Its chairman Datuk Mohd Azlan Hashim said the company continued to grow its business despite a fairly tight economy.
Barring any unforeseen circumstances, Azlan said, the board was confident that traffic volume at the highway infrastructure division would continue to grow in line with increased development in the vicinity it served.
Moving forward, he said the board expected the highway infrastructure division would continue to record accounting losses due to the existing high finance and amortisation costs.
“However, the board also expects the division to remain cash-flow positive on an operational basis as a result of the restructuring of the long-term debt,” he said. — Bernama
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