Sasbadi’s Q3 earnings down

KUALA LUMPUR: Sasbadi Holdings Bhd’s net profit fell 33.3% to RM2.56mil in the third quarter ended May 31, 2017 against RM3.84mil a year ago, mainly due to the drop in revenue, coupled with higher operating costs. 

Its revenue for stood at RM21.69mil, down 3.25% from RM22.41mil in the same corresponding period last year. Earnings per share for fell to 0.92 sen in the third quarter against 1.38 sen previously. 

The book publisher said the decrease in revenue was mainly attributable to the lower revenue recorded by our subsidiaries, partly offset by the consolidation of the revenue of the United Publishing Group post acquisition by the company in August 2016.

It added that the decrease in the revenue by its subsidiaries was mainly due to weaker market conditions. 

For the first nine months ended May 31, 2017, Sasbadi posted a net profit of RM12.27mil, or 4.39 sen earnings per share, on revenue of RM80.07mil.