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NewsKossan Rubber 3Q profit up 21%; declares 3.5 sen dividend
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Kossan Rubber 3Q profit up 21%; declares 3.5 sen dividend
by Cals Fri 22 Nov 2013, 22:53
| Kossan Rubber 3Q profit up 21%; declares 3.5 sen dividend |
| Business & Markets 2013 |
| Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com |
| Friday, 22 November 2013 20:08 |
Kossan Rubber’s 3QFY13 revenue rose to RM334 million from RM323 million in 3QFY12.
Net profit for the nine months to Sept 2013 increased to RM102 million from RM75 million in the preceding corresponding period.
Revenue increased to RM982 million in 9MFY13 from RM917 million in 9MFY12.
“The higher turnover was partly due to sales of infrastructure and automotive products,” said the rubber glove maker. “The higher profits achieved was due to lower raw material prices and increased turnover,” added the group.
The group had sold significantly higher quantities in their gloves division, but this was not reflected as selling prices were lower for the quarter.
The higher turnover in its clean-room division was attributed to a better utilisation of its newly installed facilities.
“For the remaining quarter of 2013, management expects the good performance to be maintained,” said Kossan Rubber on its future prospects.
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