YLI Holdings posts a 30% increase in Q3 turnover to RM35.7mil

By David Tan in Penang

YLI Holdings Bhd, a specialist in the manufacture of ductile iron pipes, posted a 30.2 % increase in turnover of RM35.7mil for the third quarter ended Dec 31. Pre-tax profits also rose from RM9.1mil to RM12.0mil over the same period.  

“For the first nine months of the current year, we managed to achieve an aggregate sales revenue and pre-tax profits of RM95mil and RM30.5mil. “These results surpassed the performance we achieved for the whole of last year,” its group managing director Loh Yok Yeong told StarBiz.  

He attributed the strong performance to the record-breaking sales achieved by the group for the first nine months of the current fiscal year. The group, he added, managed to sell more than 30,000 tonnes of ductile iron pipes in the nine-month period, compared to a similar amount sold for the entire 2002 fiscal year.  

“In view of the group's sterling operating performance, the board has proposed a bonus issue of up to 32.846 million shares on the basis of one bonus share for every two shares held,'' he said. The board is recommending a special dividend of 7.5% less tax. 

Loh said the group was expected to continue improving on its operating performance for the 2004 fiscal year beginning April.  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Next In Business News

Canadian Pacific CEO rules out raising bid for Kansas City rail
U.S. senators question Apple and Google on app store dominance
EU defends its push for rules on company 'green' reporting
Oil prices drop 2% on U.S. crude build, COVID-19 surge in India
GLOBAL MARKETS-Stocks rebound
Bank Islam’s growth strategy
Indonesia’s new plantation rules renew conflict between jobs, environment
Axis Reit eyes potential acquisition targets
Luxchem net profit rises two-fold on trading segment
Tasco unit buys 50% in Sabah cold chain logistics company

Stories You'll Enjoy