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NewsIntegrax sees profit shrinks to RM14m in Q2
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Integrax sees profit shrinks to RM14m in Q2
by hlk Tue 23 Aug 2011, 22:56
Integrax Bhd's pre-tax profit for the second quarter ended June 30, 2011 fell to RM13.899 million from RM14.253 million in the corresponding quarter of the previous financial year.
Revenue fell to RM21.454 million from RM21.949 million previously, it said in a filing with Bursa Malaysia today.
For the half year, its pre-tax profit rose to RM32.329 million from RM27.709 million in the corresponding period of 2010, while revenue increased to RM43.651 million from RM43.471 million previously.
Integrax said it was optimistic of the prospects going forward as the Lumut-Manjung Corridor continued to enjoy rapid growth and development. It said the oil and gas boom and the prospect of Brazilian company's Vale's billion dollar iron and steel investment had turned the corridor into a hive of economic activity.
"Integrax stands to benefit tremendously from these developments and the management will continue to focus its attention on expanding its existing port businesses in Malaysia in order to increase shareholders' value," it said. -- Bernama
Revenue fell to RM21.454 million from RM21.949 million previously, it said in a filing with Bursa Malaysia today.
For the half year, its pre-tax profit rose to RM32.329 million from RM27.709 million in the corresponding period of 2010, while revenue increased to RM43.651 million from RM43.471 million previously.
Integrax said it was optimistic of the prospects going forward as the Lumut-Manjung Corridor continued to enjoy rapid growth and development. It said the oil and gas boom and the prospect of Brazilian company's Vale's billion dollar iron and steel investment had turned the corridor into a hive of economic activity.
"Integrax stands to benefit tremendously from these developments and the management will continue to focus its attention on expanding its existing port businesses in Malaysia in order to increase shareholders' value," it said. -- Bernama
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