Slightly lower Q3 earnings for Perstima

PETALING JAYA: Perusahaan Sadur Timah Malaysia Bhd’s (Perstima) net profit for the third quarter ended Dec 30, 2016 fell 1.2% to RM14.16 million from RM14.33 million a year ago due to lower profit margin.
But revenue increased by 11.7% to RM233.04 million compared with RM208.72 million in the previous year corresponding quarter due to higher sales volume.
For the nine months period, its net profit rose 4% to RM39.20 million from RM37.72 million a year ago, while revenue also jumped 12% to RM608.69 million compared with RM543.88 million in the previous year corresponding period.
The board of directors expects the group’s operating environment to remain challenging due to greater presence of importation from overseas, in addition to the volatility of ringgit against US dollar.
“Although these factors will affect the growth of the group, the management will continue with its cost saving measures and is confident that the profitability of the group for the financial year ending March 31, 2017 will be satisfactory,” said Perstima.