KUALA LUMPUR (Jan 30): Perusahaan Sadur Timah Malaysia (Perstima) Bhd net profit for the third quarter ended Dec 31, 2011 fell 42.95% to RM7.99 million from RM14.01 million a year earlier, due mainly to lower sales volume coupled with lower profit margin.
The company said on Monday that its revenue for the quarter slipped 9.4% to RM204.26 million from RM225.47 million in 2010.
Earnings per share fell to 8.05 sen from 14.11 sen, while net assets per share was RM3.17.
For the nine months ended Dec 31, Perstima’s net profit fell 48.6% to RM30.55 million from RM59.42 million in 2010, while revenue was 3.51% lower at RM621.77 million from RM644.43 million.
Reviewing its performance, Perstima said its lower profit margin was due to the increase of production cost which was higher than the increase in selling price in order to remain competitive against importation in the market.
On its outlook, Perstima said it expects its operating environment to remain challenging and competitive due to lower tinplate price from China and Korea as well as the expected economic downturn in the global market.
“These factors will affect the growth and profitability of the group for the next three months,” it said.
The company said on Monday that its revenue for the quarter slipped 9.4% to RM204.26 million from RM225.47 million in 2010.
Earnings per share fell to 8.05 sen from 14.11 sen, while net assets per share was RM3.17.
For the nine months ended Dec 31, Perstima’s net profit fell 48.6% to RM30.55 million from RM59.42 million in 2010, while revenue was 3.51% lower at RM621.77 million from RM644.43 million.
Reviewing its performance, Perstima said its lower profit margin was due to the increase of production cost which was higher than the increase in selling price in order to remain competitive against importation in the market.
On its outlook, Perstima said it expects its operating environment to remain challenging and competitive due to lower tinplate price from China and Korea as well as the expected economic downturn in the global market.
“These factors will affect the growth and profitability of the group for the next three months,” it said.
