Southern Cable 1Q net profit falls 27% to RM2.6mil

KUALA LUMPUR: Southern Cable Group Bhd’s net profit fell 27.7% to RM2.61mil in the first quarter ended March 31, compared with RM3.61mil a year ago due to product mix, higher administrative expenses and finance costs

The cable and wire manufacturer reported a 7.5% revenue growth to RM185.1mil in the first quarter from RM172.3mil last year, as it benefited from adjusted selling prices in line with higher commodity prices.