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Sales mix boost for HLI
by Cals Mon 25 Nov 2013, 01:33
Published: Saturday November 23, 2013 MYT 12:00:00 AM
Updated: Saturday November 23, 2013 MYT 6:56:05 AM
Sales mix boost for HLI
PETALING JAYA: Hong Leong Industries Bhd’s (HLI) net profit for the first quarter ended Sept 30, rose 75.5% to RM36.07mil from RM20.55mil in the same period a year earlier due to a favourable sales mix and lower production costs for consumer products.
Consequently, its earnings per share rose to 11.7 sen from 6.67 sen previously.
The company has declared an interim dividend of 10 sen per share.
During the period in review, HLI’s revenue posted a marginal 2% increase to RM567.83mil from RM556.23mil in the previous corresponding period, while its pre-tax profit rose 30.2% to RM58.13mil from RM44.64mil.
However, when compared with the preceding quarter, HLI’s pre-tax profit fell about 10% to RM58.13mil from RM64.5mil. This was mainly due to lower revenue for the industrial products segment which was partly mitigated by higher profit contribution from associated companies.
HLI said it expected both the consumer products segment and industrial product segment to be satisfactory for the financial year ending June 30, 2014.
According to the notes to the accounts, the group had unsecured borrowings of RM929.14mil, comprising short-term borrowings of RM231.48mil and long-term borrowings of RM697.66mil, as at the end-September.
Updated: Saturday November 23, 2013 MYT 6:56:05 AM
Sales mix boost for HLI
PETALING JAYA: Hong Leong Industries Bhd’s (HLI) net profit for the first quarter ended Sept 30, rose 75.5% to RM36.07mil from RM20.55mil in the same period a year earlier due to a favourable sales mix and lower production costs for consumer products.
Consequently, its earnings per share rose to 11.7 sen from 6.67 sen previously.
The company has declared an interim dividend of 10 sen per share.
During the period in review, HLI’s revenue posted a marginal 2% increase to RM567.83mil from RM556.23mil in the previous corresponding period, while its pre-tax profit rose 30.2% to RM58.13mil from RM44.64mil.
However, when compared with the preceding quarter, HLI’s pre-tax profit fell about 10% to RM58.13mil from RM64.5mil. This was mainly due to lower revenue for the industrial products segment which was partly mitigated by higher profit contribution from associated companies.
HLI said it expected both the consumer products segment and industrial product segment to be satisfactory for the financial year ending June 30, 2014.
According to the notes to the accounts, the group had unsecured borrowings of RM929.14mil, comprising short-term borrowings of RM231.48mil and long-term borrowings of RM697.66mil, as at the end-September.
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