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Tuesday, September 27, 2016

Superlon's 1Q net profit jumps 57%

Superlon's 1Q net profit jumps 57%
By Gho Chee Yuan / theedgemarkets.com | September 27, 2016 : 6:52 PM MYT

KUALA LUMPUR (Sept 27): Thermal insulation materials maker Superlon Holdings Bhd's net profit for the first quarter of its financial year 2017 (1QFY17) jumped 57% to RM6.05 million from RM3.86 million a year ago, due to favourable exchange rate movements, growth in margin from growth in sales volume, and lower material costs.

In quarterly results filing for the 1QFY17 period ended July 31, 2016, revenue has climbed 16% to RM25.63 million from RM22.11 million in the previous corresponding period.

The group, which had just paid a 2.5 sen interim dividend on Aug 4, did not propose anymore payout during the quarter under review.

In a separate statement, Superlon managing director Jessica Liu said she was glad the group managed to achieve encouraging results and volume growth in the 1QFY17, amid the current challenging and unpredictable economic climate.

Moving forward, based on present trend of demand, Superlon expects to achieve positive results for the financial year ending April 30, 2017 (FY17).

Shares in Superlon slid eight sen or 3.25% to close at RM2.38 today, for a market value of RM188.97 million.

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