Ajiya 2Q net profit up 13.6% to RM7.23m

KUALA LUMPUR: AJIYA BHD [] net profit for the second quarter ended May 31, 2011 rose 13.68% to RM7.23 million from RM6.36 million a year earlier on the back of a higher turnover for the period.

The company said on Tuesday, July 19 that its revenue rose 15.5% to RM100.95 million from RM87.39 million in 2010, due mainly to better market sentiment.

Earnings per share was 10.41 sen, while net assets per share was RM2.95.

For the six months ended May 31, however, Ajiya’s net profit fell to RM10.55 million from RM12.01 million, despite posting revenue RM181.72 million compared to RM164.04 million a year earlier.

Commenting on its prospects, Ajiya said the volatility in the raw material price would cause greater challenge to the group to maintain its performance.

“Nevertheless, the group shall prudently manage towards the changing environment proactively,” it said.