Thursday, 26 April 2012

MPI posts net loss RM7.43 million in 3Q

KUALA LUMPUR (APRIL 26): MALAYSIAN PACIFIC INDUSTRIES [] Bhd (MPI) posted a net loss of RM7.43 million for the third quarter ended March 31, 2012 compared to net profit RM5.05 million a year earlier, due mainly to drop in revenue.

The company said on Thursday that its revenue for the quarter fell 17.63% to RM275.76 million from RM334.82 million in 2011, attributing the drop to overall weak demand.

Loss per share was 3.83 sen compared to earnings per share of 2.61 sen a year earlier.

The company declared a second interim dividend of five sen per share tax exempt

For the nine months ended March, MPI posted nest loss RM33.26 million compared to net profit RM56.18 million in 2011, while revenue fell to RM870.60 million from RM1.07 billion.

Reviewing its performance, MPI said revenue by segments saw the European sector fell the most by 31% followed by Asia, down 13% and the US by 9%.

On its outlook, MPI said the business prospects would remain challenging across all segments for the financial year ending June 31, 2012.

“However, despite the uncertain macor-economic outlook, there are positive signs that demand is inceasing and that the industry is starting to recover,” it said.

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