KUALA LUMPUR: Johan Holdings Bhd posted a net loss of RM13.86 million for its third quarter ended Sept 30, 2011 (3QFY11) in contrast to a net profit of RM1.81 million a year earlier.
The bleeding was due mainly to losses incurred in its tile manufacturing, hospitality and card services businesses.
The group’s revenue rose 9.1% to RM81.74 million from RM74.37 million a year earlier. It posted basic loss per share of 2.22 sen versus basic earnings per share of 0.29 sen a year earlier.
In its notes to Bursa Malaysia, Johan said its tiles manufacturing business incurred losses due to low selling prices, as a result of keen competition. “Furthermore, the shortage of skilled labour contributed to high production cost,” it added.
The group’s hospitality and card services businesses also incurred losses due to higher payroll, marketing costs, administrative expenses and finance costs.
For the nine-month period, Johan posted a net loss of RM27.48 million compared to a net profit of RM18.64 million a year earlier. Its revenue grew marginally to RM227.3 million from RM217.1 million for the corresponding period a year ago.
Johan gained one sen to close at 25 sen yesterday with 150,000 shares changing hands.
This article appeared in The Edge Financial Daily, December 8, 2011.
The bleeding was due mainly to losses incurred in its tile manufacturing, hospitality and card services businesses.
The group’s revenue rose 9.1% to RM81.74 million from RM74.37 million a year earlier. It posted basic loss per share of 2.22 sen versus basic earnings per share of 0.29 sen a year earlier.
In its notes to Bursa Malaysia, Johan said its tiles manufacturing business incurred losses due to low selling prices, as a result of keen competition. “Furthermore, the shortage of skilled labour contributed to high production cost,” it added.
The group’s hospitality and card services businesses also incurred losses due to higher payroll, marketing costs, administrative expenses and finance costs.
For the nine-month period, Johan posted a net loss of RM27.48 million compared to a net profit of RM18.64 million a year earlier. Its revenue grew marginally to RM227.3 million from RM217.1 million for the corresponding period a year ago.
Johan gained one sen to close at 25 sen yesterday with 150,000 shares changing hands.
This article appeared in The Edge Financial Daily, December 8, 2011.
