KUALA LUMPUR: Nitrile latex glove maker HARTALEGA HOLDINGS BHD []’s earnings rose 3% to RM50.70 million in the third quarter ended Dec 31, 2011 from RM49.20 million a year ago.
It said on Wednesday, that revenue increased 28.6% to RM241.95 million from RM188.12 million. Earnings per share were 13.93 sen compared to 13.54 sen. It declared an interim dividend of six sen per share.
“The significant increase in revenue is in line with the group’s continuous expansion in production capacity and increase in demand.
“However, the profit before tax margin reduced to 26.4% from 33.1% due to increase in raw material prices of nitrile latex and more competitive sales pricing for the current quarter compared with the corresponding quarter of the preceding year,” it said.
For the nine months ended Dec 31, 2011, revenue rose 27.3% to RM690.86 million from RM542.39 million while net profit increased 10% to RM151.60 million from RM137.76 million.
In a separate announcement, Hartalega proposed a bonus issue of up to 371.65 million 50 sen shares on a one-for-one basis and free warrants issue of up to 74.331 million free warrants on the basis of one free warrant for every five existing shares held on the entitlement date.
It said on Wednesday, that revenue increased 28.6% to RM241.95 million from RM188.12 million. Earnings per share were 13.93 sen compared to 13.54 sen. It declared an interim dividend of six sen per share.
“The significant increase in revenue is in line with the group’s continuous expansion in production capacity and increase in demand.
“However, the profit before tax margin reduced to 26.4% from 33.1% due to increase in raw material prices of nitrile latex and more competitive sales pricing for the current quarter compared with the corresponding quarter of the preceding year,” it said.
For the nine months ended Dec 31, 2011, revenue rose 27.3% to RM690.86 million from RM542.39 million while net profit increased 10% to RM151.60 million from RM137.76 million.
In a separate announcement, Hartalega proposed a bonus issue of up to 371.65 million 50 sen shares on a one-for-one basis and free warrants issue of up to 74.331 million free warrants on the basis of one free warrant for every five existing shares held on the entitlement date.
