Thursday, November 24, 2011

GD Express 1Q net profit up 27.4% to RM1.58m

KUALA LUMPUR (Nov 24): GD EXPRESS CARRIER BHD [] net profit for the first quarter ended Sept 30, 2011 rose 27.4% to RM1.58 million from RM1.24 million a year earlier, due mainly to higher demand for courier and logistics services.

The company said on Thursday that its revenue for the quarter increased 23.3% to RM26.28 million from RM21.32 million in 2010.

Earnings per share was 0.62 sen compared to 0.48 sen a year earlier, while net assets per share was 19 sen.

Reviewing its performance, GD Express said the favorable performance was attributed by higher demand for courier and logistics services, in tandem with the growing outsourcing trend in the business environment.

The company said that in response to external demand, it had invested further in infrastructure, processes and people to facilitate higher business growth and improved performance.

On its prospects, GD Express said it expects the domestic economy to remain healthy, with the implementation of various government initiatives.

However, the recent liberalisation of courier industry brought in new foreign entrants to the local market which intensify competition, it said.

'The group will continue its key focus in improving service quality and gain greater trust from the customers.

'Barring unforeseen circumstances, the board is of the opinion that the group's prospects will remain positive,' it said.


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