Thursday, 3 May 2012

Tasco 1Q net profit up 4.6% to RM6.76m

KUALA LUMPUR (May 3): Tasco Bhd net profit for the first quarter ended March 31, 2012 rose 4.6% to RM6.76 million from RM6.46 million a year earlier, due to better margins from its air freight forwarding division arising from urgent export shipments.

The company said on Thursday that its revenue for the quarter edged lower to RM117.89 million from RM118.36 million in 2011.

Earnings per share was 6.76 sen compared to 6.47 sen, while net assets per share was RM2.48.

On its prospects, Tasco said its business ws very much tied-in to the performance of the Malaysian and global economies which had a direct impact on manufacturing and international trade.

“The group has managed to achieve a creditable performance in the quarter partly due to our strategic investment in assets with good returns which was able to provide a measure of stability to our revenue and earnings within our domestic business solutions segment.”

“While we expect the next two quarters to be challenging, we are hopeful of the prospects of the group for the rest of the financial year.

“Going forward, we will remain continue to remain focused in servicing our customers with innovative logistics solutions, and expand our logistics capacity where it is beneficial to do so taking into consideration of the risk factors,” it said.

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