KUALA LUMPUR (Jan 20): ANCOM BHD [] narrowed its losses in the second quarter ended Nov 30, 2011 to RM2.59 million from net loss RM6.18 million a year earlier, on the back of higher revenue from its major segments.
The company said on Friday that its revenue for the quarter rose 40.5% to RM439.8 million from RM312.81 million in 2010.
Loss per share was 1.20 sen compared loss per share of 2.86 a year earlier, while net assets per share was RM1.41.
For the six months ended Nov 30, Ancom’s net loss was RM1.64 million compared to net loss RM15.28 million in 2010, while revenue rose 23.93% to RM826.68 million from RM667.03 million.
Reviewing its performance, Ancom said the agricultural and industrial chemical division remained the largest business segment, adding that the division posted strong revenue growth during the financial quarter on a more favourable operating environment compared with previous financial year.
In addition, lower operating costs in the media division also contributed to the favourable group’s results, it said.
Ansom said the continuing global economic uncertainty had given rise to price competitions in the chemical industry.
The price competition and the influx of cheaper imports had put pressure on the profit margin of the group, it said.
On its prospects, Ancom said that based on its improved performance compared to the previous financial year and barring any unforeseen circumstances, the company expects its performance to remain satisfactory for the remaining of the financial year.
The company said on Friday that its revenue for the quarter rose 40.5% to RM439.8 million from RM312.81 million in 2010.
Loss per share was 1.20 sen compared loss per share of 2.86 a year earlier, while net assets per share was RM1.41.
For the six months ended Nov 30, Ancom’s net loss was RM1.64 million compared to net loss RM15.28 million in 2010, while revenue rose 23.93% to RM826.68 million from RM667.03 million.
Reviewing its performance, Ancom said the agricultural and industrial chemical division remained the largest business segment, adding that the division posted strong revenue growth during the financial quarter on a more favourable operating environment compared with previous financial year.
In addition, lower operating costs in the media division also contributed to the favourable group’s results, it said.
Ansom said the continuing global economic uncertainty had given rise to price competitions in the chemical industry.
The price competition and the influx of cheaper imports had put pressure on the profit margin of the group, it said.
On its prospects, Ancom said that based on its improved performance compared to the previous financial year and barring any unforeseen circumstances, the company expects its performance to remain satisfactory for the remaining of the financial year.
