Tuesday, September 13, 2011

Ramunia 3Q earnings slide to RM2m

KUALA LUMPUR: RAMUNIA HOLDINGS BHD []'s net profit fell 86.9% to RM2.036 million in the third quarter ended July 31, 2011 versus RM15.59 million a year ago.

It said on Tuesday, Sept 13 that turnover was only RM183,000 compared with RM6.137 million a year ago. Earnings per share'' were 0.31 sen versus 2.40 sen.

'Other income generated by the group had decreased by RM12.70 million compared to preceding year corresponding quarter mainly due to the gain arising from the disposal of Teluk Ramunia fabrication yard.

'This lead to a lower profit generated for the current quarter of RM2.04million compared to RM15.59million in the preceding year corresponding quarter. The lower turnover and profit was due to the tail end of the remaining projects billings and lower non-operating income,' it said.

For the nine-month period, Ramunia's net profit declined by 87.1% to RM4.55 million from RM35.42 million a year ago.'' Its revenue shrank to RM3.28 million from RM33.87 million.

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