Guan Chong Q2 earnings up 2.4% to RM35.3m

  • Business
  • Wednesday, 22 Aug 2012

KUALA LUMPUR: Guan Chong Bhd's earnings rose 2.4% to RM35.30mil in the second quarter ended June 30, 2012 from RM34.45mil a year ago boosted by forex translation gains in its foreign operations.

It said on Wednesday it was optimistic about the performance for the current financial year though revenue fell 6.5% to RM312.84mil from RM334.64mil mainly due to lower selling price of cocoa products although the sales volume increased marginally.

Its earnings per share were 11.12 sen compared with 10.84 sen. It declared an interim dividend of 2.50 sen compared with 3.0 sen a year ago.

When compared with the first quarter ended March 31, 2012, its pre-tax profit was lower at RM40.08mil compared with RM42.68mil.

Its earnings in the first half rose 3.2% to RM66.60mil from RM64.53mil a year ago. Revenue increased 6.8% to RM667.18mil from RM624.64mil.

In its outlook, Guan Chong said the company was well-positioned for growth as "many initiatives to improve our competitiveness and profitability have been carried out strategically".

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