Tuesday, September 27, 2011

Ingress 2Q earnings up 51.8% to RM3.75m

KUALA LUMPUR: INGRESS CORPORATION BHD []'s earnings rose 51.8% to RM3.75 million from the RM2.47 million a year ago, boosted by its automotive division.

It said on Tuesday, Sept 27 that revenue, however, declined by 8.9% to RM178.07 million from RM195.55 million. Earnings per share were 4.88 sen compared with 3.22 sen.

'The automotive division recorded revenue of RM148.8 million and profit before tax of RM5.7 million as against the previous financial year's corresponding quarter revenue of RM178.3 million and profit before tax of RM9.9 million.

'The power engineering and projects division recorded revenue of RM29.3 million with a breakeven position in comparison to the previous financial year corresponding quarter revenue of RM17.3 million and loss before tax of RM2.0 million,' it said.

In the first half, its net profit fell 17.3% to RM10.69 million from RM12.94 million while revenue slipped 6% to RM353.14 million from RM375.98 million a year ago.

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