Sapura Industrial posts profit in Q2 against loss in previous year

PETALING JAYA: Sapura Industrial Bhd posted a net profit of RM1.05 million in the second quarter ended July 31 2018 compared with a net loss of RM1.03 million in the previous corresponding quarter on the back of higher revenue.
Its revenue for the quarter jumped 33.5% to RM57.5 million, from RM43.08 million in the same period last year mainly due to higher demand from original equipment manufacturers towards the latter half of the quarter on zero-rated goods & services tax in June and July.
For the six months period, it posted a net profit of RM1.13 million, against a net loss of RM894,000 a year ago, while revenue rose 10.3% to RM108.12 million from RM97.98 million.
The group said the outlook continues to be challenging for the automotive sector and it has intensified efforts to strengthen operational efficiency.
Sapura Industrial soared 7.5 sen or 9.15% to 89.5 sen today on volume of 100 shares.