BSL's Q3 net profit up more than twofold

PETALING JAYA: BSL Corp Bhd saw its net profit rise by more than twofold for the third quarter ended May 31, to RM1.18 million from RM544,000 on the back of increased orders for its precision and stamping, and tooling segment.
Revenue meanwhile increased by 25.5% to RM38.95 million from RM31.03 million.
While the company’s fabrication and forging segment, printed circuit board and module assembly segment recorded losses, its precision and stamping and tooling segment, and renewable energy segment were profitable.
In a filing with Bursa Malaysia, BSL’s board said it foresees prospects to be challenging due to uncertainties in the global economic environment.
Going forward, BSL said it will be promoting its electronic manufacturing service and renewable energy businesses in a bid to bring in more clients.
The group returned to the black for the first nine months of its financial year, with a net profit of RM2.16 million compared with a net loss of 694,000 a year ago. Revenue improved by 27.02% to RM104.29 million from RM82.1 million last year.
BSL shares fell by 1.87% to 52.5 sen yesterday, with 977,500 changing hands.