HIAP TECK's 3Q net profit surges

Hiap Teck Venture Bhd’s third quarter (3Q) net profit saw both annual and quarterly growth as the steel products manufacturer’s revenue increased while cost of sales and operating expenses fell.

In a statement to Bursa Malaysia yesterday, Hiap Teck said net profit in3Q ended April this year touched RM16.87 million or 5.24 sen a share compared to a net loss of RM2.04 million a year earlier.

Revenue rose 5.8 % to RM289.62 from RM273.72 million while profit before tax came to RM22.56 million, compared to a loss before tax of RM17.65 million


This article appeared in The Edge Financial Daily, July 1, 2010.