KUALA LUMPUR (Nov 9): Hong Leong Industries Bhd (HLI) recorded a higher net profit of RM81.86 million for its first financial quarter ended Sept 2017 (1QFY18), up 26.3% from RM64.77 million for the corresponding quarter in the previous year, mainly attributable to higher revenue from the consumer products segment.

Based on the quarterly results reported in a filing to Bursa Malaysia today, its consumer products segment registered a profit before taxation of RM81.27 million, while its industrial products segment contributed RM2.67 million.

HLI's consumer products segment involves the manufacture, assembly and distribution of motorcycles, scooters and related parts and products, as well as manufacturing and sale of ceramic tiles. On the other hand, its industrial products segment deals with the manufacturing and sale of fibre cement and concrete roofing products.

Group-wide quarterly revenue stood at RM629.43 million, higher by 11.2% compared with RM565.75 million recorded in 1QFY17.

Following the quarterly results, HLI's board of directors declared a first interim single tier dividend of 15 sen per share to be paid on Dec 12, 2017.

"Barring any unforeseen circumstances, the board expects the group's performance for both the consumer products and industrial products segments to be satisfactory for the financial year ending June 30, 2018," it said of its outlook on the group's performance for the financial year ahead.

At market close today, HLI shares were down 10 sen or 1.01%, settling at RM9.80 for a market capitalisation of RM3.13 billion.