Tuesday, November 23, 2010

Multi Sports Holdings 3Q earnings jump 50.2% to RM16.46m

KUALA LUMPUR: Multi Sports Holdings Bhd earnings jumped 50.2% to RM16.46 million in the third quarter ended Sept 30, 2010 from RM10.96 million a year ago.

It said on Tuesday, Nov 23 that revenue rose 17% to RM70.28 million from RM60.06 million. Earnings per share were 4.41 sen compared with 3.48 sen.

As compared to 2Q, it said revenue for 3Q dipped by 1.9%. The gross profit margin improved by 0.1% to 32.5% as compared to 32.4% in the last corresponding quarter.

For the nine-months ended Sept 30, Multi Sports recorded revenue of RM203.4 million and profit after taxation of RM49.2 million. The growth in revenue by 40.7% compared to a year ago was mainly due to the increased demand of EVA MD products from its customers.

'Gross profit margin for nine months ended Sept 30, 2010 has decreased to 32.3% from 33.6% for last year same period as this was mainly due to the higher production cost arising from wages increment in Jan 2010. The group decided to revise the workers' wages upward in view of increasing orders being received by the group,' it said.

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