Monday, August 22, 2011

KNM 2Q net profit falls 23.25% to RM10.86m

KUALA LUMPUR: KNM GROUP BHD [] net profit for the second quarter ended June 30, 2011 fell 23.2% to RM10.86 million from RM14.14 million a year earlier, due to slower improvement in capacity utilisation in certain operating units.

It said on Monday, Aug 22 that revenue for the quarter rose to RM544.30 million from RM383.21 million in 2010 due to higher revenue recognition.

Earnings per share was 1.11 sen while net assets per share was RM1.83.

For the six months ended June 30, KNM's net profit fell 45.1% to RM29.87 million from RM54.48 million in 2010, on the back of revenue RM957.30 million.

On its prospects for the year, KNM said it expects increase improvement in certain operating units and as such croup's profitability for the year 2011 would improve, barring any unforeseen circumstances.

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