KUALA LUMPUR (March 28): SYF RESOURCES BHD [] swung into the black with net profit of RM3.22 million in the second quarter ended Jan 31, 2012 compared with net losses of RM431,000 a year ago due to higher sales with lower raw material costs.
It said on Wednesday lower finance cost after the debts restructuring exercise also contributed significantly to the net profit.
SYF’s revenue rose 32.4% to RM42.43 million from RM37.79 million a year ago underpinned by good sales in the upstream segment as the supply of raw materials was consistent. Its earnings per share were 1.32 sen compared with loss per share of 0.51 sen.
For the first half ended Jan 31, 2012, it posted net profit of RM42.46 million compared with net loss of RM1.01 million in the previous corresponding period. Revenue was 9.1% higher at RM85.41 million compared with RM78.23 million a year ago due to good sales in the upstream segment and improved production output.
It said on Wednesday lower finance cost after the debts restructuring exercise also contributed significantly to the net profit.
SYF’s revenue rose 32.4% to RM42.43 million from RM37.79 million a year ago underpinned by good sales in the upstream segment as the supply of raw materials was consistent. Its earnings per share were 1.32 sen compared with loss per share of 0.51 sen.
For the first half ended Jan 31, 2012, it posted net profit of RM42.46 million compared with net loss of RM1.01 million in the previous corresponding period. Revenue was 9.1% higher at RM85.41 million compared with RM78.23 million a year ago due to good sales in the upstream segment and improved production output.
