KUALA LUMPUR: Higher steel prices lifted Hiap Teck Venture Bhd
earnings in third quarter ended April 30, but the company warned that the lockdown in June and prolong movement control will impact its results in the final quarter.
Net profit in the tree-month period soared to RM65.9mil from RM4.9mil a year ago, while revenue doubled to RM330mil.
The company, in a filing with Bursa Malaysia today, said the strong results were driven by increased sales volume and higher steel selling prices.
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