Tasco 2Q net profit up 12%

  • Business
  • Wednesday, 13 Aug 2008

PETALING JAYA: Trans-Asia Shipping Corporation Bhd (Tasco) posted net profit of RM3.25mil in the second quarter ended June 30, up 12% from RM2.9mil a year ago, boosted by higher volume and new customers.

The total logistics solutions provider said on Wednesday revenue rose 10% to RM87mil from RM78.98mil a year ago. Earnings per share was 3.25 sen versus 3.8 sen. Group managing director Lee Check Poh said the higher earnings and revenue were underpinned by the increase in volume handled and new customers secured by the forwarding division and international air freight division.

For the first half, net profit rose 19% to RM6mil from RM5.07mil a year ago. Revenue increased 5% to RM167.25mil from RM158.52mil. “The improved in performance was mainly due to the revenue mix whereby higher margin division namely forwarding division has achieved higher sales. In addition, continuous efforts on internal savings have also contributed to increase of the group’s net profit,” he added.

 TASCO :  [Stock Watch]  [News]

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