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NewsHup Seng 3Q profit rises 12% yoy to RM7.8m
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Hup Seng 3Q profit rises 12% yoy to RM7.8m
by Cals Thu 14 Nov 2013, 00:08
| Hup Seng 3Q profit rises 12% yoy to RM7.8m |
| Business & Markets 2013 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Wednesday, 13 November 2013 19:17 |
Revenue also increased 3% y-o-y to RM59 million from RM57 million.
In a filing to the stock exchange, the biscuit, confectionery and foodstuff manufacturer said its profit rise was due to higher sales recorded.
Hup Seng said the higher revenue constituted greater local market demand for biscuits, which mainly contributed to the positive growth in sales.
For the nine-month period, the firm posted profit of RM27 million, from RM24 million, while revenue raked in RM184.7 million against RM184.6 million in the previous corresponding period.
Hup Seng said its surge in earnings came mainly on cumulative effects of lower material input cost and optimal utilisation of existing new operational facilities.
“Soft CPO prices have contributed largely to strong earnings for the group. A price recovery in the immediate future may not be afoot, barring any freak weather conditions,” said Hup Seng.
“We will continue to build the competitiveness of our products and address the needs of consumers to sustain the performance.”
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