Wednesday, September 28, 2011

Sapura Industrial 2Q net profit up 11.6% to RM7.21m

KUALA LUMPUR: SAPURA INDUSTRIAL BHD [] net profit for the second quarter ended July 31, 2011 rose 11.6% to RM7.21 million from RM6.46 million a year earlier, mainly due to model mix and cost improvement efforts throughout the group.

It said on Wednesday, Sept 28 that revenue for the quarter, however, slipped to RM75.93 million from RM78.72 million in 2010 due to lower volume.

Earnings per share was 9.90 sen compared to 8.87 sen a year ago, while net assets per share was RM1.10.

For the six months ended July 31, Sapura Industrial’s net profit rose to RM12.44 million from RM11.12 million in 2010, albeit on the back of lower revenue of RM142.75 million from RM152.39 million a year earlier.

On its prospects, the company said it was cautious that market conditions would continue to be challenging for the automotive sector.

“As such the group has intensified its efforts to further strengthen operational efficiency,” it said.

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