KUALA LUMPUR: Hong Leong Industries Bhd
’s net profit jumped to RM140.56 million in the first quarter ended Sept 30, 2024 (1Q 2024) from RM87.67 million in the same period a year earlier.
In a filing with Bursa Malaysia today, the group said higher earnings for the quarter were mainly driven by higher motorcycle sales and a RM12.6 million gain from a land disposal.
Revenue for the quarter rose to RM929.75 million from RM835.88 million year-on-year, mainly attributed to the higher sales from the higher market demand for motorcycles.
The group expects to achieve satisfactory results in the financial year ending June 30, 2025.
"Motorcycle demand has improved and is expected to remain robust in the upcoming quarters. The group continues to manage production optimisation for a better mix and cost to sustain its performance,” said Hong Leong Industries.
The group declared an interim single-tier dividend of 25 sen per share for the quarter, payable on Dec 24, 2024. - Bernama
