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Guan Chong Q3 earnings up 5.6% to RM27.4m, dividend 2 sen
Published: Friday November 16, 2012 MYT 1:54:00 PM
KUALA LUMPUR: Cocoa processor Guan Chong Bhd's earnings rose 5.6% to RM27.41mil in the third quarter ended Sept 30, 2012 from RM25.94mil a year ago, supported by a 5.9% increase in sales volume and improved profit margin.
It said on Friday the higher profit was achieved in spite of a 4.7% decline in revenue to RM348.47mil from RM365.72mil a year ago due to lower average selling prices of cocoa ingredients and the drop in cocoa bean prices.
Earnings per share were 5.76 sen compared with 5.44 sen. Its dividend was 2.0 sen compared with 4.0 sen a year ago.
Its managing director and CEO Brandon Tay Hoe Lian said the better earnings were despite the challenging markets in the US and Europe, and volatile prices for raw materials.
"GCB was able to weather the storm as we continued to find new markets and maintained an efficient cost structure for our plants in Pasir Gudang and Batam," he said.
On the 2.0 sen dividend, the company said it had paid 9.0 sen per share so far in FY12, or RM31.8mil, which was in line with its dividend policy of paying 25% of net profit to shareholders.
Guan Chong's nine-months earnings increased by 3.9% to RM94.02mil from RM90.47mil in the previous corresponding period. Revenue rose 2.5% to RM1.015bil from RM990.36mil.