KUALA LUMPUR: SOUTHERN ACIDS (M) BHD []'s earnings surged to RM7.91 million for the second quarter ended Oct 31, 2010 from only RM408,000 a year ago, boosted by the higher average selling price of fatty acids.
It said on Friday, Dec 10 revenue rose 15.7% to RM128.59 million from RM111.13 million a year ago, earnings per share were 5.78 sen compared with 0.3 sen.
'The higher revenue in the 2Q is attributable to the higher average selling price of fatty acids achieved by the oleochemical division and crude palm oil prices recorded by the PLANTATION [] division.
'Correspondingly, the improved group revenue has resulted in a group pre-tax profit of RM14.9 million as compared to a pre-tax profit of RM2.0 million recorded in the corresponding second quarter last year,' it said.
Southern Acids said its revenue of RM128.6 million was marginally lower compared to RM129.2 million in the first quarter mainly due to lower volume of fatty acids sold.
It said pre-tax profit of RM14.9 million in the second quarter rose RM3.2 million or 28% from'' RM11.7 million in the first quarter. It explained this was mainly contributed by the plantation division on the back of higher CPO prices during the second quarter.
It said on Friday, Dec 10 revenue rose 15.7% to RM128.59 million from RM111.13 million a year ago, earnings per share were 5.78 sen compared with 0.3 sen.
'The higher revenue in the 2Q is attributable to the higher average selling price of fatty acids achieved by the oleochemical division and crude palm oil prices recorded by the PLANTATION [] division.
'Correspondingly, the improved group revenue has resulted in a group pre-tax profit of RM14.9 million as compared to a pre-tax profit of RM2.0 million recorded in the corresponding second quarter last year,' it said.
Southern Acids said its revenue of RM128.6 million was marginally lower compared to RM129.2 million in the first quarter mainly due to lower volume of fatty acids sold.
It said pre-tax profit of RM14.9 million in the second quarter rose RM3.2 million or 28% from'' RM11.7 million in the first quarter. It explained this was mainly contributed by the plantation division on the back of higher CPO prices during the second quarter.
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