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EP Manufacturing's Q1 pre-tax profit falls
by hlk Fri 26 Apr 2013, 19:20
EP Manufacturing Bhd's pre-tax profit fell 28.4 per cent to RM7.532
million for the first quarter ended March 31, 2013, from RM10.517
million in the same period last year.
Revenue was 19.8 per cent lower at RM110.401 million from RM137.704 million.
In a statement today, EP Manufacturing, which is the components
vendor for Proton and Perodua, said the decline in revenue was
reflective of the transition of models of the two national carmakers.
Executive chairman Hamidon Abdullah said there had also been
cost-down initiatives by Proton and Perodua, for vendors to reduce
wastage and improve efficiency.
"Nonetheless, we have been focused on efforts to improve production efficiencies," he added.
On outlook, Hamidon said the group remained positive of the
automotive industry this year, given the buoyant local economic
environment and healthy gross domestic product growth rate of 5.4 per
cent.
"Furthermore, the Malaysian Automotive Association has projected a
total industry volume growth of two per cent, to 640,000 units this
year," he added.-- Bernama
million for the first quarter ended March 31, 2013, from RM10.517
million in the same period last year.
Revenue was 19.8 per cent lower at RM110.401 million from RM137.704 million.
In a statement today, EP Manufacturing, which is the components
vendor for Proton and Perodua, said the decline in revenue was
reflective of the transition of models of the two national carmakers.
Executive chairman Hamidon Abdullah said there had also been
cost-down initiatives by Proton and Perodua, for vendors to reduce
wastage and improve efficiency.
"Nonetheless, we have been focused on efforts to improve production efficiencies," he added.
On outlook, Hamidon said the group remained positive of the
automotive industry this year, given the buoyant local economic
environment and healthy gross domestic product growth rate of 5.4 per
cent.
"Furthermore, the Malaysian Automotive Association has projected a
total industry volume growth of two per cent, to 640,000 units this
year," he added.-- Bernama
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