Teck Guan net profit up

?The proposed project, if materialised, could provide Tan Chong Motor with opportunity to expand its foothold in the automotive industry in Vietnam,? the company said in a filing with Bursa Malaysia last Friday

PETALING JAYA: Teck Guan Perdana Bhd’s net profit for its fourth quarter ended Jan 31, rose to RM5.10mil from RM2.39mil in the previous corresponding period, primarily attributed to the increase in operating margin in the current quarter.

In a filing with Bursa Malaysia yesterday, the company, which is engaged in the manufacture and sale of cocoa products, said its revenue in the fourth quarter grew to RM98.53mil from RM76.51mil a year earlier.

“The increase was mainly attributed to the increase in sales volume.”

For its financial year ended Jan 31, net profit jumped to RM2.54mil from RM224,000 in the previous corresponding period while revenue dropped to RM301.90mil from RM387.92mil a year earlier. The overall financial performance in financial year 2019 was reasonably encouraging.

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