Pensonic Q1 earnings up 14.4% to RM3.88m

KUALA LUMPUR: Pensonic Holdings Bhd’s earnings rose 14.4% to RM3.88mil in the first quarter ended Aug 31, 2013 from RM3.39mil a year ago, underpinned by export sales but its expects competition to remain intense.

It said on Tuesday its revenue increased by 12.6% to RM105.71mil from RM93.86mil a year ago. Earnings per share were 4.2 sen.

Pensonic said revenue from business operation in Malaysia reported a 8.1% growth mainly due to the increase in demand during the Hari Raya festival.

“The group’s continual efforts to grow its export sales in Myanmar, Vietnam and Middle-East have fared very well. Export sales grew substantially by 27.4% or RM6mil to RM28mil for the current quarter, which accounted for 27% of the group’s revenue,” it said.

Pensonic said gross profit margin rose 21.6%, a slight uptick from 21.0% a year ago, mainly due to  the increase in sales revenue and gross profit margin contributed by better-margin products.

The company, which expected competition to remain intense, said it would continue to grow its existing markets, stepping up cost control and phasing out of low margin products, reduction in corporate costs.

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