Ge-Shen posts RM3.7mil net profit in Q2


KUALA LUMPUR: Ge-Shen Corp Bhd, a plastic injection moulding and metal fabrication firm, reported improved results in the second quarter on increased orders from clients.

The company posted a net profit of RM3.7mil in the three-month ended June 30, up from RM492,000 a year ago.

Revenue rose to RM65.5mil from RM30.5mil previously.

"The strong quarterly results were mainly attributed to increased customer orders and run rate including various new projects entering mass production stage due to the re-opening of the Western economies," the company said in a filing today.

Executive director Louis Lau said the group's results were affected by the pandemic.

"Barring the total lockdown measures due to the surge in Covid-19 numbers, we would likely have met or surpassed our highest quarterly sales revenue, which was recorded in the fourth quarter of 2020," he said.

He was optimistic that a resurgence in economic activities upon the reopening of the global economies would translate into higher demand for manufacturing products.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Ge-Shan

   

Next In Business News

China stocks fall on profit-taking following new Covid easing measures
Bank Negara's international reserves rise to US$109.7bil as at Nov 30
CIMB launches sustainability-linked Treasury programme with pioneering clients Farm Fresh and Sunway
India central bank raises key rate, says inflation battle not over
Taiwan seeks to reassure on TSMC commitment to island despite US investment
Oil edges up on China demand hopes; Russian uncertainty weighs
Banks bounce higher to lead FBM KLCI into positive territory
Apple overhauls App Store pricing to range from US$0.29 to US$10,000
CGS-CIMB: More clarity needed on larger-value projects in Budget 2023
Super rich folks in wealth hubs, including S’pore, still have their eyes on crypto

Others Also Read