Thursday, November 3, 2011

Yeo Hiap Seng 3Q earnings double to RM8.27m

KUALA LUMPUR (Nov 3): Yep Hiap Seng (Malaysia) Bhd's earnings rose 104% to RM8.27 million in the third quarter ended Sept 30 from RM4.05 million a year, as it benefited from better sales, less bad debts write off and gain on disposal of machinery.

It said on Thursday revenue increased by 26.5% to RM147.12 million from RM116.27 million as sales for Malaysia, Indonesia and Singapore including the export market grew by 18%, 368% and 8% respectively.

'The increase in sales is mainly due to more advertising and promotion activities undertaken during the Hari Raya festive period,' it said.

Earnings per share were 5.42 sen compared with 2.65 sen a year ago.

For the nine-month period, its earnings surged 363% to RM20.02 million from RM4.31 million while revenue increased 11.9% to RM414.86 million from RM370.70 million.

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