Tasco 2Q net profit up 17% to RM8.09 mil

by **Cals** Wed 19 Nov 2014, 02:31

Tasco 2Q net profit up 17% to RM8.09 mil

KUALA LUMPUR (Nov 18): Tasco Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) saw its net profit for the second quarter ended Sept 30, 2014 (2QFY15) climbed 17% to RM8.09 million from RM6.92 million a year ago.
This, according to the logistics services provider, was underpinned by the stronger performance from its domestic business solutions (DBS). The segment recorded pre-tax profit of RM11.5 million, a 48% rise from RM7.7 million last corresponding quarter.
Earnings per share (EPS) advanced to 8.09 sen from 6.92 sen previously.
Quarterly revenue inched up by almost 4% to RM122.62 million from RM118.05 million previously underpinned by the better performance from its DBS segment as the revenue for segment increased by RM6.3 million or 8.4% to RM83 million from RM76.5 million.
"However, international business solutions (IBS) segment recorded a 4.6% drop in revenue to RM39.6 million from RM41.5 million," it told Bursa Malaysia in an announcement today.
For the cumulative six months ended Sept 30 (1HFY15), Tasco posted a net profit of RM18.05 million, a 42.7% growth year-on-year compared to RM12.65 million.
Cumulative revenue totalled RM257.42 million, an increase of RM35 million or 15.8% year-on-year from RM222.38 million.
Going forward, Tasco remained cautious about their performance for the rest of the financial year.
"The downward risks include the uncertain global economy, the slowdown in the domestic export growth and rising operational costs due to strong inflationary pressures such as the forthcoming implementation of goods and services tax (GST) and further subsidy rationalisation," it explained.
Nevertheless, the group said it would continue to maintain its strategy to focus on servicing customers with innovative logistics solutions and expand their logistics capacity when it is beneficial to do so.
Tasco share price was unchanged at RM3.06 today, giving it a market capitalisation of RM300 million