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NewsLii Hen 1Q profit rises 33% to RM6.26 million
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Lii Hen 1Q profit rises 33% to RM6.26 million
by hlk Mon 27 May 2013, 15:33
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Monday, 27 May 2013 13:17
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KUALA LUMPUR (May 27): LII HEN INDUSTRIES BHD []'s net profit
rose 33% to RM6.26 million in the first quarter ended March 31, 2013
from RM4.7 million a year earlier.
The furniture manufacturer told the exchange that revenue fell to
RM82.99 million from RM83.23 million.
"Despite the decreased in sales, profit before tax improved in the
current quarter due to the better conversion rate realised compared with
the average US dollar of 3.06 during the period. (This had) led to higher
gain in foreign currency coupled with the improvement in operating
efficiency," Lii Hen said.
"The global economic outlook for 2013 remains fragile and uncertain.
With the high stockholding of furniture products experienced by the US’s
customers, the sales orders for the group are sluggish and certain
subsidiary companies are currently facing excess capacity in their
production lines," Lii Hen said.
The firm plans to pay a first interim single-tier dividend of 4% a share.
This translates into four sen based on Lii Hen shares’ par value of RM1.
Written by Chong Jin Hun of theedgemalaysia.com
Monday, 27 May 2013 13:17
A + / A - / Reset
KUALA LUMPUR (May 27): LII HEN INDUSTRIES BHD []'s net profit
rose 33% to RM6.26 million in the first quarter ended March 31, 2013
from RM4.7 million a year earlier.
The furniture manufacturer told the exchange that revenue fell to
RM82.99 million from RM83.23 million.
"Despite the decreased in sales, profit before tax improved in the
current quarter due to the better conversion rate realised compared with
the average US dollar of 3.06 during the period. (This had) led to higher
gain in foreign currency coupled with the improvement in operating
efficiency," Lii Hen said.
"The global economic outlook for 2013 remains fragile and uncertain.
With the high stockholding of furniture products experienced by the US’s
customers, the sales orders for the group are sluggish and certain
subsidiary companies are currently facing excess capacity in their
production lines," Lii Hen said.
The firm plans to pay a first interim single-tier dividend of 4% a share.
This translates into four sen based on Lii Hen shares’ par value of RM1.
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