Sapura Industrial posts net loss in Q2

PETALING JAYA: Sapura Industrial Bhd has registered a net loss of RM1.03 million in the second quarter (Q2) ended July 31, 2017, against a net profit of RM873,000 in the previous corresponding quarter.
In Bursa Malaysia filing today, the group said net loss was due to lower revenue and higher operating costs, mainly from imported materials, as well as labour and production related expenses in preparation for new parts to be launched in the third quarter.
Revenue declined 11.7% to RM43.08 million, compared with RM48.8 million in the same period last year, mostly due to lower demand from original equipment manufacturers.
For the six months period, Sapura Industrial recorded a net loss of RM894,000, from a net profit of RM993,000 a year ago, while revenue slightly increased by 3.4% to RM98 million, from RM94.8 million previously.