KUALA LUMPUR: Chin Well Holdings Bhd
's net profit for its first quarter ended Sept 30, 2014 rose 43.8% to RM8.95mil from RM6.22mil a year ago.
In a filing to Bursa Malaysia on Thursday, the group said its revenue was up 19.9% to RM127.51mil from RM106.32mil a year ago.
Earnings per share stood at 3.28 against 2.28 the previous year.
Chin Well said its fasteners products posted a revenue of RM106.43il, representing an increase of 21.93% compared to the same quarter last year due to higher export sales to European countries.
Meanwhile, its wire products division posted a higher revenue of RM21.09mil as compared to RM19.03mil last yearr.
The division recorded a pretax of RM0.41mil due to higher revenue as well as the continuous practice of the cost control measures in its operation.
Chin Well said the group will continue with its ongoing efforts to raise operational efficiency and productivity so as to further enhance its competitive edge in this challenging market environment.
The group intends to expand its Do-It-Yourself (DIY) retailer distribution network which will generate higher margin.
Barring any unforeseen circumstances, Chin Well anticipates satisfactory performance and growth in the current financial year.
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