Superlon Holdings Bhd posts RM2.15m 3Q net profit

Superlon Holdings Bhd posts RM2.15m 3Q net profit
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KUALA LUMPUR (March 13): Superlon Holdings Bhd’s net profit jumped 39.3% to RM2.15 million, or 1.36 sen per share, in the third quarter ended Jan 31, 2020 (3QFY20) versus RM1.54 million or 0.97 sen per share a year ago.

Revenue grew 3.61% to RM26.44 million from RM25.52 million, Superlon said in a bourse filing.

Superlon declared a third interim dividend of 1.15 sen, which will be entitled on March 30 and payment to be made on April 30.

The group attributed better earnings to lower cost of production and increase in sales of copper pipes to local customers.

For the nine-month period ended Jan 31 (9MFY2020), the group’s net profit fell 15.3% to RM7.3 million from RM8.62 million in the previous corresponding period. Cumulative revenue went up 5.78% to RM82.82 million from RM78.29 million previously.

In terms of prospects, Superlon expects the operating environment to remain clouded in the near term as the impact of the recent COVID-19 outbreak has yet to be fully known.

However, the group said its business strategies remain on track for achieving further business growth in the medium-to-long term.