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JCY International may increase payout dividends on better prospects

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JCY International may increase payout dividends on better prospects Empty JCY International may increase payout dividends on better prospects

Post by Cals Wed 21 May 2014, 01:42

JCY International may increase payout dividends on better prospects
Business & Markets 2014
Written by Charlotte Chong of the edgemalaysia.com   
Tuesday, 20 May 2014 15:07

KUALA LUMPUR (May 20): Hard disk drive (HDD) mechanical components manufacturer JCY International Bhd expects better earnings from its business, which may facilitate a higher payout dividend this year.
Executive director James Wong said during a media briefing today that the company was quite pleased with its performance and that it could increase its dividends. 

Wong added,"We are quite sure that the outlook is very positive after seeing some marginal players being phased out from the competitive market."

"Out of the few big players in the market, we are the only one with healthy balance sheet," said Wong. 

Yesterday, JCY International has declared a single tier tax exempt second interim dividend of 1.25 sen per ordinary share or 5% for the financial year ending Sept 30, 2014.


It has posted a net profit of RM38.1 million in its second quarter ended Mar 31 this year, a reversal of a net loss of RM20.78 million a year ago. Revenue came in 18.41% year-on-year higher at RM475.3 million from RM401.4 million.


It said in an announcement yesterday that the better performance was due to higher quantities shipped, better average exchange rate of USD against Ringgit Malaysia and improved Average Selling Price (ASP).
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