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Solid Automotive 2Q profit at RM1.43 million

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Solid Automotive 2Q profit at RM1.43 million Empty Solid Automotive 2Q profit at RM1.43 million

Post by Cals Mon 30 Dec 2013, 14:49

Solid Automotive 2Q profit at RM1.43 million
Business & Markets 2013
Written by Jonathan Gan at theedgemalaysia.com   
Monday, 30 December 2013 14:43

KUALA LUMPUR (Dec 30): Solid Automotive Bhd posted a net profit and revenue of RM1.43 million and RM31.31 million respectively for its second quarter ended October 31, 2013, the automotive parts entity told the exchange.

There are no comparative figures for the current financials as Solid Automotive was listed in September this year. Cumulative net profit for the six months was RM2.59 million while revenue came to RM58.42 million.

"The revenue for the current quarter and current financial year-to-date was derived from our domestic sales of automotive parts and components which contributed approximately 56% and 58% of our total revenue respectively, while the export market contributed approximately 44% and 42% for the current quarter and current financial year-to-date respectively.

"We are cautiously optimistic that our group’s prospects are positive for the year," Solid Automotive said.

In a separate statement, Solid Automotive said it plans to pay its first interim single-tier dividend of 0.6 sen a share.
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