Lower cost lifts CBIP engineering profit margin

KUALA LUMPUR: CB Industrial Products Holding Bhd (CBIP), a palm oil equipment maker, posted a higher profit in the last quarter as lower production cost increased margin at its engineering division.

For the three-month ended Dec 31, net profit rose to RM29.8mil from RM22.5mil a year earlier.

Revenue improved slightly to RM173.5mil from RM172.2mil previously.

CBIP has declared a second interim dividend payout of 2 sen a share.

"Considering the progress of the projects secured in hand and the current challenging environment, the Board is optimistic that the Group will be able to achieve satisfactory results mainly driven by the palm oil equipment and engineering segment for the financial year ending Dec 31, 2021," it said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

CBIP , palm oil


Next In Business News

Axiata seeks 66% stake in Indonesia's Link Net
Pos Malaysia appoints Charles Brewer as new Group CEO�
Bursa ends July on a disappointing note, KLCI closes below 1,500
Gamuda Engineering, Bosch Rexroth to raise construction benchmark
SC cracks down on Binance, tells investors to take their money out
KLCI falls below key 1,500 level
CIMB Niaga posts higher 1H net profit of RM614m
Oil prices drop, but on track for weekly gain
Dollar near one-month low, set for worst weekly showing since May
Asian shares extend losses, set for worst month since March 2020

Stories You'll Enjoy