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NewsKossan Rubber Q2 earnings up 12.8% to RM23.62m (7153)
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Kossan Rubber Q2 earnings up 12.8% to RM23.62m (7153)
by hlk Thu 23 Aug 2012, 19:54
KUALA LUMPUR: Kossan Rubber Industries Bhd's earnings rose 12.8% to RM23.62mil in the second quarter ended June 30, 2012 from RM20.94mil a year ago mainly due to its gloves manufacturing business and was optimistic that demand for all types of gloves would remain strong.
It announced on Thursday revenue was 10.5% higher at RM304.75mil from RM275.61mil. Earnings per share were 7.39 sen compared with 6.55 sen.
"The commissioned nine new single formers lines capable of producing 1.25 billion pieces of nitrile glove thereby increasing output from 38% to 44% in the second half of 2012. The new surgical gloves production is expected to come on stream in November 2012.
"With the strong demand and increased output, management is confident profits are expected to grow in tandem in the second half of the year," it said.
Kossan's first half earnings rose 3.8% to RM45.57mil from RM43.89mil in the previous corresponding period. Its revenue increased 11.6% to RM594.18mil from RM532.05mil.
It announced on Thursday revenue was 10.5% higher at RM304.75mil from RM275.61mil. Earnings per share were 7.39 sen compared with 6.55 sen.
"The commissioned nine new single formers lines capable of producing 1.25 billion pieces of nitrile glove thereby increasing output from 38% to 44% in the second half of 2012. The new surgical gloves production is expected to come on stream in November 2012.
"With the strong demand and increased output, management is confident profits are expected to grow in tandem in the second half of the year," it said.
Kossan's first half earnings rose 3.8% to RM45.57mil from RM43.89mil in the previous corresponding period. Its revenue increased 11.6% to RM594.18mil from RM532.05mil.
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