Muda Holdings Q2 earnings up
PETALING JAYA: Muda Holdings Bhd's net profit for the second quarter ended June 30, 2018 net profit jumped more than two fold to RM11.49 million from RM4.13 million a year ago on higher revenue.
Its revenue rose 9% to RM353.81 million from RM325.90 million in the preceding year's corresponding quarter.
For the six months period, net profit was up 22% to RM27.19 million from RM22.27 million a year ago on the lower cost of waste paper and higher selling price of industrial paper, coupled with better selling price of paper packaging.
Revenue increased 12.9% to RM725.41 million compared with RM642.63 million in the preceding year's corresponding period mainly attributable to higher selling price of industrial paper and paper packaging products and higher sales volume from the latter.
"Despite the current trade tension between US and China, which may create uncertainties to the global economy, coupled with the introduction of new tax structure and environmental requirements by the government, we are optimistic that the second half of the year will be profitable and the full year financial results will be better compared to previous year," Muda said.