MPI posts 9-month profit of RM30mil

  • Business
  • Thursday, 08 May 2003

Malaysian Pacific Industries Bhd (MPI) posted a pre-tax profit of RM29.7mil for the nine months ended March 31, 2003, compared with a loss of RM30.9mil in the corresponding period last year. 

Revenue for the nine months under review rose to RM643.5mil from RM541.2mil previously. For the quarter ended March 31, 2003, MPI posted a pre-tax profit of RM6.1mil on revenue of RM213.2mil, compared with a loss of RM9.96mil on revenue of RM181.7mil in the corresponding quarter last year. 

MPI said the better performance for the quarter was due to an increase in sales, improved factory utilisation sales, and the positive effects of continuous productivity and cost down efforts. 

“Although business visibility remains poor, the board expects business to improve in the last quarter of this financial year,” the company said. 

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