KUALA LUMPUR (Jan 31): Perusahaan Sadur Timah Malaysia (Perstima) Bhd shares retreated on Tuesday after the its net profit for the third quarter ended Dec 31, 2011 fell 42.95% to RM7.99 million from RM14.01 million a year ago, due mainly to lower sales volume coupled with lower profit margin.
At 9.10am, Perstima shed 10 sen to RM3.80 with 7,300 shares done.
Its revenue for the quarter slipped 9.4% to RM204.26 million from RM225.47 million in 2010.
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 on Monday 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.
At 9.10am, Perstima shed 10 sen to RM3.80 with 7,300 shares done.
Its revenue for the quarter slipped 9.4% to RM204.26 million from RM225.47 million in 2010.
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 on Monday 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.
