KUALA LUMPUR: YEO HIAP SENG (M) BHD [] posted net profit of RM7.63 million in the first quarter ended March 31, 2011, an increase of 36% from RM5.61 million a year ago.
It reported on Tuesday, April 26 that revenue was up just 0.3% to RM151.62 million from RM151.21 million. Earnings per share were 5.0 sen compared with 3.68 sen.
"Sales from Yeo's core brand product improved by 11%. However, overall sales only improved by 0.3% mainly due to the reduction in sales from Red Bull products following the termination of the Red Bull distribution rights in April 2010," it said.
Its operating profit was RM12.3 million compared to RM7.8 million a year ago, also due to higher sales from Yeo's core brand products.
The group closed its manufacturing plant in Kuching and consolidated its operations with the Johor Bahru plant which resulted in a severance payment of RM600,000.
"In addition, in line with our plan to improve plant utilisation, we plan to consolidate the Petaling Jaya plant with the Shah Alam plant for which an impairment of RM1.2 million has been recognised in this quarter," it said.
It reported on Tuesday, April 26 that revenue was up just 0.3% to RM151.62 million from RM151.21 million. Earnings per share were 5.0 sen compared with 3.68 sen.
"Sales from Yeo's core brand product improved by 11%. However, overall sales only improved by 0.3% mainly due to the reduction in sales from Red Bull products following the termination of the Red Bull distribution rights in April 2010," it said.
Its operating profit was RM12.3 million compared to RM7.8 million a year ago, also due to higher sales from Yeo's core brand products.
The group closed its manufacturing plant in Kuching and consolidated its operations with the Johor Bahru plant which resulted in a severance payment of RM600,000.
"In addition, in line with our plan to improve plant utilisation, we plan to consolidate the Petaling Jaya plant with the Shah Alam plant for which an impairment of RM1.2 million has been recognised in this quarter," it said.
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