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New Hoong Fatt 1Q profit rises 65% to RM7M
by Cals Fri 03 May 2013, 00:52
New Hoong Fatt 1Q profit rises 65% to RM7M
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Thursday, 02 May 2013 18:27
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KUALA LUMPUR (May 2): NEW HOONG FATT HOLDINGS BHD [] (NHF) reported a 65% rise in first quarter profit from a year earlier as the automotive component manufacturer's lower production cost lifted its bottom line.
In a statement to the exchange today, NHF said net profit came to RM6.76 million in the quarter ended March 31, 2013 (1QFY13) compared to RM4.1 million previously. Revenue rose 0.5% to RM54.31 million from RM54.02 million.
"The increase in profit was mainly due to lower manufacturing cost," NHF said.
Looking ahead, the firm expects the remaining quarters of the current financial year to be challenging on a still-weak global economic backdrop.
NHF said its emphasis on manufacturing productivity and efficiency besides the company's regional expansion via product variation are expected to sustain business growth.
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Thursday, 02 May 2013 18:27
A + / A - / Reset
KUALA LUMPUR (May 2): NEW HOONG FATT HOLDINGS BHD [] (NHF) reported a 65% rise in first quarter profit from a year earlier as the automotive component manufacturer's lower production cost lifted its bottom line.
In a statement to the exchange today, NHF said net profit came to RM6.76 million in the quarter ended March 31, 2013 (1QFY13) compared to RM4.1 million previously. Revenue rose 0.5% to RM54.31 million from RM54.02 million.
"The increase in profit was mainly due to lower manufacturing cost," NHF said.
Looking ahead, the firm expects the remaining quarters of the current financial year to be challenging on a still-weak global economic backdrop.
NHF said its emphasis on manufacturing productivity and efficiency besides the company's regional expansion via product variation are expected to sustain business growth.
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» Aug12- Companies in the news MMC Corp, Ge-Shen, Shell Refining, Mitrajaya, UMW, Benalec, BTM Resources, New Hoong Fatt, Global Oriental, Weida, KPJ He
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» New Hoong Fatt eyes regional automotive market
» New Hoong Fatt eyes growing China, Indonesia auto markets
» Aug12- Companies in the news MMC Corp, Ge-Shen, Shell Refining, Mitrajaya, UMW, Benalec, BTM Resources, New Hoong Fatt, Global Oriental, Weida, KPJ He
» May 3rd - Stocks To Watch Luxchem, New Hoong Fatt, Maxis, Daya, glove stocks, Suria Capital.
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