Corporate results - RGB/3A/SPB/FAVCO/UTUSAN/SSTEEL/KOSSAN/LBS

Corporate results
Business & Markets 2013
Written by Cynthia Blemin of theedgemalaysia.com
Tuesday, 27 August 2013 12:31

Kuala Lumpur: Gaming company, RGB International Bhd, posted a significant rise in net profit to RM1.68 million for the second quarter of 2013 financial year (2QFY13), against RM473,000 previously.

Revenue rose to RM33.6 million from RM28.3 million in the previous corresponding period.

In a filing with Bursa Malaysia yesterday, the company said its sales and marketing (SSM) division’s revenue and profit before tax increased by 66% and 79% respectively for the period mainly due to a higher number of machines sold in the region.

For the first six months, net profit rose to RM4.27 million against RM599,000 previously. This was on the back of a higher revenue of RM65.06 million from RM56.34 million a year ago.

THREE-A RESOURCES BHD [] recorded a lower net profit of RM2.45 million for 2QFY13, compared with RM3.58 million previously.

The beverage ingredient manufacturer posted a revenue of RM76.5 million for the period compared with RM71.9 previously.

The lower profit was due to higher raw material cost as well as higher share of losses from a jointly controlled entity, according to a Bursa Malaysia filing yesterday.

For the first six months, net profit was reduced to RM5.18 million from RM7.21 million previously.

Sarawak PLANTATION [] Bhd suffered a dip in net profit to RM1.33 million for 2QFY13, compared with RM16.17 million previously.

Revenue for the quarter under review fell to RM70.99 million from RM118 million in the previous corresponding period.

The group’s performance was affected by the cropping pattern of fresh fruit bunches, which normally reach their peak in the second half of the year, as well as lower prices of crude palm oil and palm kernel, according to a filing with Bursa Malaysia yesterday.

Crane maker FAVELLE FAVCO BHD [] posted a lower net profit of RM11.08 million for 2QFY13, against RM19.75 million previously. Revenue was at RM165.7 million, down from RM205.1 million previously.

For the first six months, the group posted a lower net profit of RM21.57 million, against RM30.03 million previously. Revenue was down to RM329.34 million from RM334.18 million a year ago.

Utusan Melayu (Malaysia) Bhd returned to the black with a net profit of RM1.9 million for 2QFY13, against a net loss of RM1.5 million previously.

Revenue for the quarter rose to RM96.1 million from RM89.5 million in the previous corresponding quarter. The increase in revenue was primarily due to higher net circulation revenue of newspapers and advertising revenue compared with the corresponding quarter last year.

For the first six months, Utusan reduced its net loss to RM6.89 million from RM7.18 million previously.

SOUTHERN STEEL BHD [] posted a rise in net profit to RM24.22 million for the 4QFY13, against RM20.28 million previously.

Revenue, dipped to RM710.8 million for the quarter under review compared with RM763 million previously. The lower revenue was attributed mainly to lower selling prices.

For the full year, the company registered a huge jump in net profit to RM42.18 million against RM6.18 million previously. The company has proposed a dividend of 7 sen per unit.

KOSSAN RUBBER INDUSTRIES BHD []’s net profit rose to RM34.09 million for 2QFY13, against RM23.62 million previously, mainly due to raw material prices and cost controls.

Revenue rose to RM321.6 million compared with RM304.8 million previously.

For the six-month period, net profit jumped to RM66.63 million from RM45.56 million a year ago.

LBS BINA GROUP BHD [] posted a net profit of RM14.2 million for the 2QFY13, against RM13.2 million previously.

Revenue for the property developer increased to RM134.21 million compared with RM123.24 million previously. — By Cynthia Blemin


This article first appeared in The Edge Financial Daily, on August 27, 2013.