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Tek Seng Q3 earnings surge

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Tek Seng Q3 earnings surge Empty Tek Seng Q3 earnings surge

Post by Cals Mon 25 Nov 2013, 01:31

Published: Saturday November 23, 2013 MYT 12:00:00 AM 
Updated: Saturday November 23, 2013 MYT 6:50:50 AM
Tek Seng Q3 earnings surge

PETALING JAYA: Tek Seng Holdings Bhd’s net profit jumped 89% from RM1.49mil a year ago to RM2.81mil in the third quarter ended Sept 31, 2013 due to its lower purchase costs for its sheeting and polyvinyl chloride or PVC leather division.
The higher earnings is also attributed to its higher turnover which rose 13% to RM55.96mil from RM49.52mil year-on-year, it told Bursa Malaysia. “The board of directors foresee the performance of the group for 2013 to remain stable for its PVC business although it may be affected by fluctuation in the price of raw materials.”
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