Thursday 28 Mar 2024
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KUALA LUMPUR (Aug 29): JHM Consolidated Bhd's second quarter net profit tripled to RM4.52 million or 3.68 sen per share, from RM1.46 million or 1.19 sen per share a year earlier, on higher demand for light emitting diode (LED) lamps in the automotive industry coupled with better utilisation of fixed factory overhead.

Revenue for the quarter ended June 30, 2016 (2QFY16) rose 48.07% to RM47.3 million from RM32 million in 2QFY15, JHM said in a bourse filing today.

The electronic component maker's net profit for the first half of the year (1HFY16) rose by more than 2.2 times to RM7.28 million or 5.92 sen per share from RM3.25 million or 2.64 sen per share in 1HFY15. Revenue went up 63% to RM93 million from RM57 million.

JHM said the automotive LED market has a bright future amid increasing replacement of traditional light bulbs with LED light sources.

"Its growth continues to rise steadily in the automotive lighting market despite the slowing growth in the automobile markets. Hence, the board remains optimistic of achieving satisfactory performance in the coming financial quarter," it said.

At 3.19pm, JHM's share price was up three sen or 2.13% at RM1.44 with 1.85 million shares traded, for a market capitalisation of RM184.4 million.

 

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