KUALA LUMPUR (May 28): Hong Leong Industries Bhd rose as much as 34 sen or 3.58% to RM9.83 this morning after announcing a second interim dividend of 35 sen.

At 10.11am, the group pared some gains at RM9.65, still up 16 sen or 1.69%. It was among the top 10 gainers this morning.

Hong Leong Industries told a bourse filing yesterday, its net profit for the third quarter ended March 31, 2021, surged 75.71% to RM101.08 million, from RM57.53 million a year ago.

Its quarterly revenue, meanwhile, climbed 26.99% to RM745.96 million, from RM587.4 million a year ago.

The group also announced a second interim single tier dividend of 35 sen per share for the latest quarter. The ex and payment data fall on Jun 11 and Jun 25.

As for the nine months ended March 31, 2021, the group’s net profit increased by 26.67% to RM252.04 million from RM198.98 million a year earlier, while its revenue grew 8.34% to RM2.17 billion, from RM2 billion a year earlier.

The group said the increase in revenue and profit of both the quarter under review and the financial year-to-date was contributed mainly by higher sales volume and operational efficiencies which improved cost.

The board expects the group’s performance for the financial year ending June 30, 2021 to be satisfactory.

“Although there was economic recovery and elevated consumer activity in the current quarter, the group remains vigilant in managing the uncertainties from the Covid-19 situation on our businesses,” it said.

It also noted that the global supply shortage to the auto industry as a result of a very tight supply situation in the semiconductor industry may also impact the motorcycle industry, and the management is closely monitoring the situation.