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NewsZhulian’s 4QFY13 net profit plunges 56% y-o-y
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Zhulian’s 4QFY13 net profit plunges 56% y-o-y
by Cals Wed 22 Jan 2014, 19:16
| Zhulian’s 4QFY13 net profit plunges 56% y-o-y |
| Business & Markets 2014 |
| Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com |
| Wednesday, 22 January 2014 18:08 |
KUALA LUMPUR (Jan 22): Zhulian Corporation Bhd’s net profit for its fourth quarter ended 30 November 2013 saw a significant year-on-year (y-o-y) drop of 56% to RM13.7 million from RM31.3 million.
According to its statement to the bourse, revenue for 4QFY13 also fell 33% to RM78.0 million from RM117.2 million in 4QFY12.
However, cumulative net profit for the twelve months to November rose slightly to RM121.0 million compared to RM117.1 million in the previous year, while revenue for the period declined to RM417.1 million from RM450.4 million.
The group attributed the lower revenue for the year to “a fall in the local market demand”, while the higher pre-tax profit for the year was derived from an increase in the share of profits from associate companies.
The group is optimistic of its performance in FY14, despite the hike in fuel prices and electricity tariffs, which may affect domestic consumer sentiment, and also the political instability in Thailand which may impact its exports.
“Barring unforeseen circumstances, the board of directors remain optimistic of the group’s performance for the financial year ending 30 November 2014,” said the group.
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