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MISC sees better quarters ahead, sees profitable FY2012 (3816)
by hlk Wed 20 Jun 2012, 17:37
KUALA LUMPUR: MISC Bhd,
which posted net losses of RM465.08mil in the first quarter ended March
31, 2012, sees better quarters ahead and is expecting a profitable
financial year.
It chairman Datuk Manharlal Ratilal said MISC had completed its exit from the loss-making liner business.
He said for FY12, he expected a profitable year as opposed to the loss making year previously.
On
May 16, MISC posted net losses of RM465.08mil in Q1 ended March 31,
2012 compared with losses of RM307.88mil a year ago following weaker
performance of the liner and heavy engineering segments.
During
that quarter, revenue fell 17.8% to RM2.404bil from RM2.924bil a year
ago largely due to a reduction in liner business revenue from lower
volume carried and lower freight rates.
which posted net losses of RM465.08mil in the first quarter ended March
31, 2012, sees better quarters ahead and is expecting a profitable
financial year.
It chairman Datuk Manharlal Ratilal said MISC had completed its exit from the loss-making liner business.
He said for FY12, he expected a profitable year as opposed to the loss making year previously.
On
May 16, MISC posted net losses of RM465.08mil in Q1 ended March 31,
2012 compared with losses of RM307.88mil a year ago following weaker
performance of the liner and heavy engineering segments.
During
that quarter, revenue fell 17.8% to RM2.404bil from RM2.924bil a year
ago largely due to a reduction in liner business revenue from lower
volume carried and lower freight rates.
Last edited by hlk on Sat 30 Jun 2012, 10:18; edited 1 time in total
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