KUALA LUMPUR: Malaysian Pacific Industries Bhd (MPI) reported a 24.1% fall in revenue to RM279.2 million for 2QFY12 ended Dec 31 from RM367.6 million in the previous corresponding quarter, mainly due to poor performance in Europe. As a result, MPI saw a net loss of RM16.2 million or 8.37 sen a share for 2QFY12, compared with a net profit of RM25.29 million in 2QFY11.
By segment, its revenue fell 35%, 22% and 13% in Europe, Asia and the US respectively from the previous corresponding quarter. “European billings reduced significantly during the period under review. This shifted the revenue mix for Europe from 31% in 2QFY11 to 27% for the quarter under review,” said MPI.
For the six months ended Dec 31, 2011, MPI’s revenue came to RM594.8 million, an 18.92% drop from RM738 million in the previous corresponding period. It made a loss of RM25.84 million from a profit of RM51.13 million previously.
MPI closed 10 sen higher at RM3.68 yesterday, with 792,900 shares traded. The counter has been on the rise since the Chinese New Year break, rising 40 sen or 12.2% from RM3.28 on Jan 20.
This article appeared in The Edge Financial Daily, January 31, 2012.
By segment, its revenue fell 35%, 22% and 13% in Europe, Asia and the US respectively from the previous corresponding quarter. “European billings reduced significantly during the period under review. This shifted the revenue mix for Europe from 31% in 2QFY11 to 27% for the quarter under review,” said MPI.
For the six months ended Dec 31, 2011, MPI’s revenue came to RM594.8 million, an 18.92% drop from RM738 million in the previous corresponding period. It made a loss of RM25.84 million from a profit of RM51.13 million previously.
MPI closed 10 sen higher at RM3.68 yesterday, with 792,900 shares traded. The counter has been on the rise since the Chinese New Year break, rising 40 sen or 12.2% from RM3.28 on Jan 20.
This article appeared in The Edge Financial Daily, January 31, 2012.
