KUALA LUMPUR (Nov 9): GUAN CHONG BHD []’s net profit rose 45% to RM25.94 million in the third quarter ended Sept 30, 2011 from RM17.86 million a year ago.
It said on Wednesday that revenue increased by 23.3% to RM365.72 million from RM296.56 million while earnings per share were 8.16 sen versus 5.59 sen.
Guan Chong said the higher turnover was mainly due to higher sales volume of cocoa products as the result of contribution from its Batam plant, which started in February.
“The profit before tax for the quarter ended Sept 30 increased to RM 33.82 million. This is mainly attributed by higher sales volume and gain on commodity futures contracts,” it added.
However, when compared with the second quarter ended June 30, the group’s profit before tax declined to RM 33.82 million from RM 40.24 million. The decrease was mainly caused by unrealised loss arising from foreign exchange due to appreciation of US Dollar.
For the nine-month period, it earnings rose 58.4% to RM90.47 million from RM57.11 million while revenue increased by 18.4% to RM990.36 million from RM836.29 million.
It said on Wednesday that revenue increased by 23.3% to RM365.72 million from RM296.56 million while earnings per share were 8.16 sen versus 5.59 sen.
Guan Chong said the higher turnover was mainly due to higher sales volume of cocoa products as the result of contribution from its Batam plant, which started in February.
“The profit before tax for the quarter ended Sept 30 increased to RM 33.82 million. This is mainly attributed by higher sales volume and gain on commodity futures contracts,” it added.
However, when compared with the second quarter ended June 30, the group’s profit before tax declined to RM 33.82 million from RM 40.24 million. The decrease was mainly caused by unrealised loss arising from foreign exchange due to appreciation of US Dollar.
For the nine-month period, it earnings rose 58.4% to RM90.47 million from RM57.11 million while revenue increased by 18.4% to RM990.36 million from RM836.29 million.
