Hong Leong Industries Q1 net profit up 26.39%

PETALING JAYA: Hong Leong Industries Bhd's net profit for the first quarter ended Sept 30, 2017 rose 26.39% to RM81.86 million from RM64.77 million a year ago mainly due to higher revenue from the consumer products segment.
In a filing with Bursa Malaysia today, the group said consumer products contributed RM81.28 million profit while industrial products contributed RM2.67 million.
Revenue for the quarter rose 11.25% to RM629.43 million from RM565.75 million a year ago.
The group declared a first interim single tier dividend of 15 sen per share for the quarter, payable on Dec 12, 2017.
It expects performance for both the consumer and industrial products segments to be satisfactory for the financial year ending June 30, 2018.
The group's share price fell 1.01% or 10 sen to close at RM9.80 with a total of 87,500 shares traded, giving it a market capitalisation of RM3.13 billion.