Higher raw material cost a drag on Hup Seng’s earnings


During the quarter in review, the confectionery company’s revenue remained relatively unchanged at RM87.7mil, compared with RM87.8mil previously, while earnings per share (EPS) fell to 1.24 sen from 1.55 sen.

PETALING JAYA: Hup Seng Industries Bhd posts a lower net profit of RM9.9mil for the fourth quarter ended Dec 31,2020, compared with RM12.4mil in the corresponding quarter last year, mainly due to higher cost of certain raw materials.

During the quarter in review, the confectionery company’s revenue remained relatively unchanged at RM87.7mil, compared with RM87.8mil previously, while earnings per share (EPS) fell to 1.24 sen from 1.55 sen.

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