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NewsUpdate Lii Hen 1Q net profit rises 32% y-o-y, pays 4 sen dividend
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Update Lii Hen 1Q net profit rises 32% y-o-y, pays 4 sen dividend
by Cals Tue 27 May 2014, 00:41
| Update Lii Hen 1Q net profit rises 32% y-o-y, pays 4 sen dividend |
| Business & Markets 2014 |
| Written by Chong Jin Hun of theedgemalaysia.com |
| Monday, 26 May 2014 13:29 KUALA LUMPUR (May 26): Lii Hen Industries Bhd's net profit rose 32% to RM8.3 million in the first quarter ended March 31, 2014 from RM6.3 million a year earlier. Profit growth came on the furniture manufacturer's higher revenue and as the exporter gained from a stronger US dollar versus the ringgit. In a statement to Bursa Malaysia today, Lii Hen said revenue was higher at RM95.3 million compared to RM83 million. Lii Hen said profit before tax (PBT) growth "is in line with the increase of turnover and from the translation gain on USD conversion rate, though the quantum of the increase in the PBT for the current quarter had been affected by the full implementation of the minimum wage policy within the group." According to Lii Hen, revenue rose as the firm sold more bedding products, the main contributor to group top line. "Another contributing factor for the higher revenue for the quarter under review was due to higher average USD conversion rate by 6.86% in the current quarter. (2014-3.27, 2013-3.06). Lii Hen said it planned to pay a first interim single-tier dividend of 4% a share for the quarter in review. The dividend translates into four sen a share based on Lii Hen shares' par value of RM1 each. |
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