This article first appeared in The Edge Financial Daily, on October 15, 2015.

KUALA LUMPUR: Atlan Holdings Bhd recorded a 44% drop in net profit at RM4.67 million or 1.84 sen per share, despite a higher revenue of RM192.2 million, due to lower contributions from various sectors in the second quarter ended Aug 31, 2015 (2QFY16).

In a filing with Bursa Malaysia, Atlan Holdings declared a second interim single-tier ordinary dividend of 7.5 sen per share, amounting to RM19 million that will be paid on Oct 30, for FY16 ending Feb 29, 2016.

In the cumulative six-month period ended Aug 31, 2015, net profit fell 8.53% to RM17.6 million against a 7.63% higher revenue of RM378.66 million than the corresponding period last year.

Segmentally, profit in the duty-free and automotive sectors in 2QFY16 was lower than the corresponding quarter last year, due to foreign exchange losses as a result of the weakening ringgit.