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Profitable Q2 seen for Malaysia Smelting
by hlk Fri 15 Jul 2011, 13:19
HwangDBS Vickers Research expects a profitable second quarter for Malaysia Smelting Corporation (MSC) Bhd, a leading integrated tin mining and smelting group .
"We expect second quarter 2011 to be profitable, led by both higher revenue and a healthy bottom line, given the fact that tin prices averaged around US$28,872 per tonne during the quarter," HWANGDBS said in its research report today.
It said MSC was running at almost full capacity which meant future earnings would be driven mainly by tin prices.
In the first quarter ended March 31, 2011, MSC chalked up a net profit of RM28 million against a net loss of RM29 million recorded in the corresponding first quarter. -- Bernama
"We expect second quarter 2011 to be profitable, led by both higher revenue and a healthy bottom line, given the fact that tin prices averaged around US$28,872 per tonne during the quarter," HWANGDBS said in its research report today.
It said MSC was running at almost full capacity which meant future earnings would be driven mainly by tin prices.
In the first quarter ended March 31, 2011, MSC chalked up a net profit of RM28 million against a net loss of RM29 million recorded in the corresponding first quarter. -- Bernama
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