KUALA LUMPUR: GUAN CHONG BHD []'s fourth quarter earnings surged 540% to RM42.91 million from RM6.67 million a year ago on higher revenue, net gains from a stronger ringgit and commodity futures contracts.
The company said on Monday, Jan 31 revenue rose 52.5% to RM332.31 million from RM217.81 million while earnings per share were 17.88 sen compared with 2.78 sen a year ago. It proposed a dividend of 5.25 sen a share.
'The increase of 52.57% in turnover is mainly due to higher sales volume and market price of cocoa products. The profit before tax for the period ended Dec 31, 2010 increased substantially to RM 32.19 million.
'This is mainly attributed by higher revenue generated in current quarter, net gains arising from foreign exchange due to the appreciation of the ringgit, gain on commodity futures contracts and net fair value gains on foreign exchange derivatives,' it said.
For the financial year ended Dec 31, 2010, its earnings rose to RM100.11 million from RM14.92 million. Its revenue surged past the RM1 billion market to RM1.168 billion compared with RM642.65 million.
The company said on Monday, Jan 31 revenue rose 52.5% to RM332.31 million from RM217.81 million while earnings per share were 17.88 sen compared with 2.78 sen a year ago. It proposed a dividend of 5.25 sen a share.
'The increase of 52.57% in turnover is mainly due to higher sales volume and market price of cocoa products. The profit before tax for the period ended Dec 31, 2010 increased substantially to RM 32.19 million.
'This is mainly attributed by higher revenue generated in current quarter, net gains arising from foreign exchange due to the appreciation of the ringgit, gain on commodity futures contracts and net fair value gains on foreign exchange derivatives,' it said.
For the financial year ended Dec 31, 2010, its earnings rose to RM100.11 million from RM14.92 million. Its revenue surged past the RM1 billion market to RM1.168 billion compared with RM642.65 million.
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