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Samchem Holdings 2Q net profit falls 30% to RM1.63 million yoy

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Samchem Holdings 2Q net profit falls 30% to RM1.63 million yoy Empty Samchem Holdings 2Q net profit falls 30% to RM1.63 million yoy

Post by Cals Mon 25 Aug 2014, 03:30

Samchem Holdings 2Q net profit falls 30% to RM1.63 million yoy
Business & Markets 2014
Written by Jonathan Gan of theedgemalaysia.com   
Friday, 22 August 2014 18:33

KUALA LUMPUR (Aug 22): Samchem Holdings Bhd’s net profit for the second financial quarter ended June 30, 2014 fell 30% to RM1.63 million from RM2.33 million a year ago, primarily due to lower profit margin and higher operating costs.

Revenue for the quarter rose 18% to RM165.06 million from RM139.42 million a year ago, mainly contributed by its foreign subsidiaries in Indonesia and Vietnam.

Its net profit in the six months ended June 30, 2014 (1H14) was at RM4.96 million, down 21.4% from RM6.31 million a year ago, even though cumulative revenue rose 20.45% to RM 318.75 million from RM264.64 million.

In its filing to Bursa Malaysia today, the group said it expects the prospects for the rest of the year to be positive, barring any unforeseen circumstances.
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