LB Aluminum Bhd 3Q profit soars 140% yoy

LB Aluminum Bhd 3Q profit soars 140% yoy
Business & Markets 2013
Written by Fatin Rasyiqah Mustaza of theedgemalaysia.com
Friday, 29 March 2013 19:30


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KUALA LUMPUR (Mar 29): LB Aluminum Bhd posted a net profit of RM4.91 million for its third quarter ended January 31, 2013, registering a 140% increase over the RM2.04 million recorded in its previous third quarter in 2012.

In an announcement to Bursa Malaysia, the company said the net profit was gained on the back of a RM99.3 million in revenue, against RM82.09 for its third quarter previously.

“This was due to higher business volume and improved profit margins as well as a share of profit in an associate compares to a share of loss for the same quarter a year before,” said the group.

For the nine months to end-January 2013, the company posted a net profit of RM11.14 million, up from 2012’s RM8.89 million. Its revenue also increased to RM293 million from RM271 million in its preceding year.

Earnings per share were 1.96 sen compared to last year’s 0.86 sen.

On the outlook, the group anticipates increased cost pressures, part of which will be caused by the implementation of minimum wages.

“Barring unforeseen circumstances, the board expects the group to remain profitable for its next quarter,” said the group.