“The company experienced improved sales for its steel products and profit margin during Q1FY21 as the economy saw a gradual return to normalisation while business sentiments improved after one year of the Covid-19 pandemic, ” managing director Lim Choon Teik said in a press release yesterday.
KUALA LUMPUR: Steelmaker Tashin Holdings Bhd
said earnings in the first quarter jumped on strong demand and rising selling prices.
Net profit in the three-month ended March 31 surged 16-fold to RM12.2mil from RM724,000 made a year ago. Revenue surged 55% to RM95.2mil. Revenue from steel processing products increased by 45% to RM68.8mil, while steel manufacturing products soared 91% to RM26.4mil.
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