Posted on 25 Nov 2015
Lysaght Galvanized Steel’s net profit drops on lower sales
Lysaght Galvanized Steel Bhd recorded a net profit of RM2.485mil
for the third quarter ended Sept 30, 2015, a 27.7% drop from a year ago,
as revenue fell 22.2% to RM14.226mil.
The galvanised steel product maker told Bursa Malaysia that revenue
in Malaysia shrank 21.5% to RM8.065mil for the quarter while that in
Asean dipped 18.8% to RM5.753mil. However, for the nine-month period,
the Asean segment’s revenue grew 15.8% to RM19.535mil.
For the year-to-date period, net profit rose 60.1% to RM12.745mil
although revenue slipped 0.5% to RM47.526mil. The improved profit was
mainly due to capital gain from the disposal of investment property,
Lysaght said.
The company said the remaining quarter had been very challenging
for the group. “Enquiries have reduced. Competition is very stiff.”
Lysaght shares increased 7 sen to close at RM3.94 on Tuesday.
