KUALA LUMPUR (Sept 30): Aluminium billets producer A-Rank Bhd's fourth quarter net profit fell 24.03% to RM3.34 million, from RM4.39 million a year ago, mainly on higher provision for income tax due to the effect of certain expenses not deductible for tax purposes.

Earnings per share for the quarter ended July 31, 2019 dropped to 1.97 sen from 2.61 sen previously, the group said in a filing with Bursa Malaysia.

Revenue for the period grew marginally by 0.22% to RM120.83 million, from RM120.56 million a year earlier, on higher business volume, although average selling prices were lower as a result of the decrease in raw material costs.

For the financial year ended July 31, 2019 (FY19), A-Rank's net profit fell 20.72% to RM11.14 million, from RM13.94 million in FY18, with revenue declining 3.25% to RM482.22 million from RM498.43 million.

On prospects, the group said it is optimistic of remaining profitable in the forthcoming quarter.

At 3pm, A-Rank shares were unchanged at 50 sen, giving a market capitalisation of RM84.79 million.