Hong Leong Industries Q4 net profit down 13.3%

PETALING JAYA: Hong Leong Industries Bhd's net profit for the fourth quarter ended June 30, 2014 (Q4 FY14) fell 13.3% to RM43.48 million from RM50.12 million a year ago due to higher production costs for its industrial products segment.
Its revenue rose slightly to RM536.32 million from RM535.85 million a year ago.
For the full year ended June 30, 2014 (FY14), net profit rose 13.5% to RM167.50 million from RM147.59 million while revenue rose slightly to RM2.06 billion from RM2.05 billion a year ago.
The group said in a filing with Bursa Malaysia yesterday that the improvement in net profit was due to the higher profit contribution from its consumer products driven by higher average selling price and lower production costs, partly offset by lower profit contribution from an associated company.
"Barring any unforeseen circumstances, the board expects the group's performance for both the consumer products segment and industrial products segment to be satisfactory for the financial year ending June 30, 2015," it said.