Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 12): Lower contribution from an associate company dragged Hong Leong Industries Bhd’s net profit for the first quarter ended Sept 30, 2018 (1QFY18) by 15.54% to RM70.05 million, from RM81.86 million a year ago.

Earnings per share for the quarter fell to 22.33 sen from 26.44 sen previously, according to the group’s filing with Bursa Malaysia today.

Revenue however was up 6.91% to RM672.91 million from RM629.43 million, Hong Leong Industries said.

“Barring any unforeseen circumstances, the board expects the performance for the consumer products segment to be satisfactory, but the market situation for industrial products will remain challenging for the (current) financial year,” it said.

The group proposed an interim dividend of 15 sen per share, payable on Dec 13.

Shares of Hong Leong Industries closed unchanged at RM10.56 today, giving the group a market capitalisation of RM3.46 billion.

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