Tasek Corp Q3 earnings down 7% on cement price competition

KUALA LUMPUR: Cement manufacturer Tasek Corp Bhd suffered a 7.1% drop in earnings to RM21.5mil from RM23.1mil in the third quarter ended Sept 30, 2014, despite revenue edging up 3.3% to RM148.7mil from RM143.9mil.

The company said this was mainly due to lower profit margins from the cement segment because of intense price competition in the market.

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