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CSC posts 216% rise yoy in 1Q profit
by Cals Tue 14 May 2013, 00:20
CSC posts 216% rise yoy in 1Q profit
Business & Markets 2013
Written by theedgemalaysia.com
Monday, 13 May 2013 18:05
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KUALA LUMPUR (May 13): CSC Steel Holdings Bhd reported a higher net profit of RM17.53 million for its first quarter ended March 31, 2013, which was 216% higher than RM5.55 million posted in the first quarter of 2012.
Revenue also rose to RM312.04 million, from RM242.19 million.
“The increase in revenue is primarily due to significant increase in sales volume of all our steel products albeit at lower selling prices.
“The much improved profit is due to significantly lower raw materials cost and lower unit production cost as a result of greater production volume,” CSC said in its notes to Bursa Malaysia.
It said barring sudden downturn in the international steel market, it “expects to generate healthier returns for the group in 2013”.
Business & Markets 2013
Written by theedgemalaysia.com
Monday, 13 May 2013 18:05
A + / A - / Reset
KUALA LUMPUR (May 13): CSC Steel Holdings Bhd reported a higher net profit of RM17.53 million for its first quarter ended March 31, 2013, which was 216% higher than RM5.55 million posted in the first quarter of 2012.
Revenue also rose to RM312.04 million, from RM242.19 million.
“The increase in revenue is primarily due to significant increase in sales volume of all our steel products albeit at lower selling prices.
“The much improved profit is due to significantly lower raw materials cost and lower unit production cost as a result of greater production volume,” CSC said in its notes to Bursa Malaysia.
It said barring sudden downturn in the international steel market, it “expects to generate healthier returns for the group in 2013”.
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