KUALA LUMPUR: Panasonic Manufacturing Malaysia Bhd's net profit for the first quarter ended June 30, 2010 rose to RM19.29 million from a net profit pf RM11.9 million a year ago on the back of RM205.54 million revenue.
Earnings per share rose to 32 sen from 20 sen a year ago, while net assets per share was RM10.51.
In a filing to Bursa Malaysia on Tuesday, Aug 17, Panasonic said the increase in revenue was mainly contributed by increased sales to the Middle East region and the transfer of manufacture and sales of some models of food processors and juicers from Japan to Malaysia.
The company said its profits included the share of results of associated companies, which comprise of a derivative gain amounting to RM1.9 million.
On its prospects, Panasonic said that despite signs of stabilisation and gradual recovery seen in the global economy, the current financial year will remain challenging with the escalating price of raw materials and strengthening of the ringgit against other major currencies of which export sales are denominated in.
'However, the company is committed to improve its earnings and manufacturing capabilities to deliver a satisfactory performance for the current financial year,' it said.
Earnings per share rose to 32 sen from 20 sen a year ago, while net assets per share was RM10.51.
In a filing to Bursa Malaysia on Tuesday, Aug 17, Panasonic said the increase in revenue was mainly contributed by increased sales to the Middle East region and the transfer of manufacture and sales of some models of food processors and juicers from Japan to Malaysia.
The company said its profits included the share of results of associated companies, which comprise of a derivative gain amounting to RM1.9 million.
On its prospects, Panasonic said that despite signs of stabilisation and gradual recovery seen in the global economy, the current financial year will remain challenging with the escalating price of raw materials and strengthening of the ringgit against other major currencies of which export sales are denominated in.
'However, the company is committed to improve its earnings and manufacturing capabilities to deliver a satisfactory performance for the current financial year,' it said.
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