KUALA LUMPUR (Feb 18): Hong Leong Industries Bhd has posted a  year-on-year (y-o-y) 4.5% increase in its second quarter ended Dec 31, 2018 (2Q) net profit to RM86.74 million from RM82.95 million last year on the back of higher consumer segment sales.

According to a bourse filing today, the group’s revenue for the second quarter of its financial year ended June 30, 2019 (2QFY19) increased y-o-y 11.15% to RM702.85 million from RM632.31 million posted last year.

The group attributed the rise in 2QFY19 profit to an increase in sales from its consumer segment

The group’s cumulative profit for the six-month period ended Dec 31, 2018 (6MFY19) decreased by 4.87% to RM156.76 million from RM164.8 million last year.

Meanwhile, 6MFY19 revenue increased by 9.03% to RM1.38 billion from RM1.26 billion last year.

However, for its 6MFY19 profit, the group said that sales increases that raised 2QFY19’s net profit were mitigated by losses stemming from an associate company.

“Barring any unforeseen circumstances, the Board expects the performance for the consumer products segment to be satisfactory while the market situation for industrial products will remain challenging for the financial year ending June 30, 2019,” the group said.

The counter closed 0.75% or seven sen higher at RM9.42 — with 14,900 shares changing hands — giving the group a market capitalisation of some RM3.07 billion.