Latexx Partners 3Q net profit up 23.5% to RM17.62m

Latexx Partners 3Q net profit up 23.5% to RM17.62m
Written by Joseph Chin
Wednesday, 10 November 2010 13:45


KUALA LUMPUR: LATEXX PARTNERS BHD [] reported a set of stronger earnings at RM17.62 million in the third quarter ended Sept 30, an increase of 23.5% from RM14.27 million a year ago.

It said on Wednesday, Nov 10 revenue rose 60.7% to RM129.87 million from RM80.84 million. Profit before tax rose 41.3% to RM20.16 million from RM14.27 million. Earnings per share were 8.19 sen compared with 7.33 sen. It declared an interim dividend of 2.5 sen per share.

For the nine-month period, revenue increased 73.1% to RM390.53 million from RM225.59 million from the previous corresponding period. Profit before tax and profit after tax increased by 93.9% and 72.0% respectively to RM67.53 million and RM59.89 million.

“The increase in the group’s revenue and improvement in the net profit of the current year was mainly due to the increase in overall sales volume, driven by the strong demand of gloves and the group’s expanded capacity from 4.5 billion pieces per annum to 7.0 billion pieces per annum.

“The stronger performance was also attributed by measures taken to improve the effectiveness and efficiency in operation control; as well as intensified and aggressive marketing strategy,” it said.

http://www.theedgemalaysia.com/business-news/176830-latexx-partners-3q-net-profit-up-235-to-rm1762m.html