PETALING JAYA: Sapura Industrial Bhd reported a net profit of RM341,000 for its second quarter ended July 31, 2019, a 67.6% plunge from RM1.05 million reported in the corresponding period of the previous year on the back of higher operation cost.
Its revenue remained flat at RM57.63 million against RM57.51 million reported previously.
For the first half of the year, its net profit declined 37.3% to RM1.55 million from RM1.13 million recorded in the same period a year, while revenue expanded 13% to RM122.2 million from RM108.12 million.
Sapura Industrial opined that the outlook for 2019 will continue to be challenging for the automotive sector.
The group cited Malaysian Automotive Association’s projection of a 0.2% growth in total industry volume to 600,000 units in 2019.
“As such, the group has intensified its efforts to further strengthen operational efficiency,” it said.
