KUALA LUMPUR: Yeo Hiap Seng Bhd’s (YHS) net profit has doubled to RM8.27 million for 3QFY11 ended Sept 30 from RM4.05 million a year earlier.
The beverage manufacturer’s revenue rose 27% to RM147.13 million from RM116.28 million. Earnings per share came in at 5.42 sen against 2.65 sen in the previous corresponding period.
The sharp jump in YHS’ earnings was mainly due to the one-off RM4.11 million gain from liquidation of a subsidiary during the quarter under review.
“The increase in sales is mainly due to more advertising and promotion activities undertaken during the Hari Raya festive period,” YHS said in notes accompanying its financials.
Its sales for Malaysia, Indonesia, and Singapore plus other countries grew year-on-year by 18%, 368% and 8% respectively during the quarter, YHS said.
For the nine-month period ended Sept 30, net profit surged by 363% to RM20.02 million from RM4.32 million a year earlier, while revenue rose by 12% to RM414.86 million from RM370.7 million.
“The improved profitability in the quarter and year-to-date was due to better sales, less bad debts write-off and gain on disposal of machinery,” YHS said.
For the nine-month period, sales from Malaysia accounted for 76.3%, Indonesia 6.3% and Singapore/other countries 17.4%.
“Yeo’s brand sales in Malaysia grew by 12%, Indonesia sales grew by 227% and Singapore/export sales grew by 18%,” YHS said of its year-to-date results.
It is noteworthy that over the past seven years, the earnings that have been achieved so far is YHS’ best cumulative nine months results, in terms of net profit.
YHS has a clean balance sheet that sits on a net cash pile of RM22.8 million with no borrowings.
Shares in YHS closed four sen lower to RM1.71 yesterday, giving it a market capitalisation of RM262.57 million. Its stock has gained 16.3% year-to-date and traded between a 52-week high of 2.04 sen and a low of 1.40 sen.
This article appeared in The Edge Financial Daily, November 4, 2011.
The beverage manufacturer’s revenue rose 27% to RM147.13 million from RM116.28 million. Earnings per share came in at 5.42 sen against 2.65 sen in the previous corresponding period.
The sharp jump in YHS’ earnings was mainly due to the one-off RM4.11 million gain from liquidation of a subsidiary during the quarter under review.
“The increase in sales is mainly due to more advertising and promotion activities undertaken during the Hari Raya festive period,” YHS said in notes accompanying its financials.
Its sales for Malaysia, Indonesia, and Singapore plus other countries grew year-on-year by 18%, 368% and 8% respectively during the quarter, YHS said.
For the nine-month period ended Sept 30, net profit surged by 363% to RM20.02 million from RM4.32 million a year earlier, while revenue rose by 12% to RM414.86 million from RM370.7 million.
“The improved profitability in the quarter and year-to-date was due to better sales, less bad debts write-off and gain on disposal of machinery,” YHS said.
For the nine-month period, sales from Malaysia accounted for 76.3%, Indonesia 6.3% and Singapore/other countries 17.4%.
“Yeo’s brand sales in Malaysia grew by 12%, Indonesia sales grew by 227% and Singapore/export sales grew by 18%,” YHS said of its year-to-date results.
It is noteworthy that over the past seven years, the earnings that have been achieved so far is YHS’ best cumulative nine months results, in terms of net profit.
YHS has a clean balance sheet that sits on a net cash pile of RM22.8 million with no borrowings.
Shares in YHS closed four sen lower to RM1.71 yesterday, giving it a market capitalisation of RM262.57 million. Its stock has gained 16.3% year-to-date and traded between a 52-week high of 2.04 sen and a low of 1.40 sen.
This article appeared in The Edge Financial Daily, November 4, 2011.
