Tasek Corporation Bhd achieved a lower profit before tax of RM27.5 million for the third quarter ended Sept 30, 2011 compared to RM40.6 million in the same quarter of the previous year.
This is due to a lower profit margin and lower volume in current sales, the company said in its filing to Bursa Malaysia.
For the nine months ended Sept 30, 2011, the profit before tax decreased to RM87.687 million from RM96.383 million previously.
Revenue for the nine months ended Sept 30, 2011 was lower at RM398.949 million from RM413.088 million.
The Group's sales margin for the domestic market was affected by competitive pricing in the market as well as higher production costs during the reporting quarter.
Tasek Corporation said the demand and pricing for cement and ready-mixed concrete is expected to remain positive for the next quarter. -- Bernama
This is due to a lower profit margin and lower volume in current sales, the company said in its filing to Bursa Malaysia.
For the nine months ended Sept 30, 2011, the profit before tax decreased to RM87.687 million from RM96.383 million previously.
Revenue for the nine months ended Sept 30, 2011 was lower at RM398.949 million from RM413.088 million.
The Group's sales margin for the domestic market was affected by competitive pricing in the market as well as higher production costs during the reporting quarter.
Tasek Corporation said the demand and pricing for cement and ready-mixed concrete is expected to remain positive for the next quarter. -- Bernama
