Tuesday, 24 April 2012

Ancom narrows 3Q net loss to RM44,000

KUALA LUMOUR (April 24): ANCOM BHD [] narrowed its net loss in the third quarter ended Feb 29, 2012 to RM44,000 from RM78,700 a year earlier, on the back of higher revenue across all major business segments.

The company said on Tuesday that its revenue for the quarter rose to RM415.56 million from RM373.22 million in 2011.

Loss per share was 0.02 sen compared top loss per share of 0.36 sen a year earlier, while net assets pers share was RM1.39.

For the nine months ended Feb 29, Ancom posted net loss RM3.59 million compared to net loss RM16.06 million previously.

Reviewing its performance, Ancom said its agricultural and industrial chemical division remained the largest business segment.

It said the division continued to post strong revenue growth in the current financial period supported by higher exports.

“In addition, lower operating costs in the Media Division have also contributed to the favourable Group’s results.

On its prospects, Ancom said that based on its improved performance of the Group compared to the previous financial year, its performance of the would remain satisfactory for the remaining of the financial year.

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