Ingress 3Q earnings jump 222% to RM6.74m from RM2m yr ago

Larger Smaller Reset KUALA LUMPUR (Dec 20) INGRESS CORPORATION BHD []'s
earnings surged 222% to RM6.73 million in the third quarter ended Oct
31, 2011 from RM2.09 million a year ago, underpinned by its automotive
component manufacturing and dealership businesses.

It said on
Tuesday, revenue declined 18.6% to RM159.67 million from RM196.11
million while earnings per share were 8.77 sen compared with 2.72 sen.''
Pretax profit was 67.2% higher at RM10.20 million compared with RM6.10
million a year ago.

Ingress said the automotive division, which
included the automotive component manufacturing division and premium
automotive dealership, recorded revenue of RM151.50 million and profit
before tax of RM11.70 million compared with revenue of RM170.70 million
and profit before tax of RM6.30 million a year ago.

For the
current quarter, the pre-tax profit was higher at RM10.2 million when
compared with the second quarter's RM5.4 million mainly due to the
recovery from the impact of the March 2011 earthquake and tsunami in
Japan especially to the Thailand's automotive industry.

For the
nine-month period, its earnings increased by 15.9% to RM17.42 million
from RM15.03 million in the previous corresponding period but revenue
declined 10.3% to RM512.81 million from RM572.09 million.