Tuesday, November 8, 2011

MPI posts net loss RM9.63m in 1Q

KUALA LUMPUR (Nov 8): MALAYSIAN PACIFIC INDUSTRIES [] Bhd (MPI) posted net loss RM9.63 million in the first quarter ended Sept 30, 2011 compared to net profit RM25.84 million a year earlier.

Reviewing its performance on Tuesday, Nov 8, MPI said the loss was due mainly to lower revenue in all its business segments and weakening US dollar.

Its revenue for the quarter fell to RM315.61 million from RM370.45 million in 2010.

Loss per share per share was 4.97 sen compared to earnings per share of 13.36 sen, while net assets per share was RM3.89.

MPI declared an interim dividend of 5 sen per share tax exempt, to be paid on Dec 8 this year.

On its outlook, MPI said it anticipated that its business prospects would remain challenging fof the financial year ending June 30, 2012, given the current softening in demand and the uncertain macro-economic outlook.


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