<p>Minho’s Q3 net profit down from 75 Percent from revenue  – Business News</p>

Minho’s Q3 net profit down from 75 Percent from revenue – Business News

KUALA LUMPUR: Minho (M) Bhd’s net profit for its third quarter fiscal year ended September 30, 2016, respectively (Q3 16) plunged by 75% to RM1.11mil from RM4.37mil annually ago from reduced earnings across a number of the organization’s business sections.  

In a filing with Bursa Malaysia, the company that is mainly a producer and exporter of wood products, said  its earnings for Q3 16 fell by 1.7% to RM63mil from about RM64mil.

Minho’s all market segments enrolled lower earnings in the quarter but for the property growth segment which saw an improvement in RM1.46mil in earnings.

On the other hand,that the RM2.59mil complete mixed decrease in the wood trading, manufacturing in addition to services and treatment market segments, partially offset the property development section’s rise of earnings.  

For the eight months, the Minho’s net profit fell by 33.6% year-on-year to RM11.3mil whereas the earnings rose by 1.4% to RM212mil. Greater contributions drove the increase in earnings from the wood trading and manufacturing sections.

The development of RM6.53mil at the turnover to the manufacturing segment was chiefly attributed to the improved demand for wood mouldings products and also to the greater need for cement bags.  

The growth of RM4.63mil in the turnover of this wood trading segment was a consequence of improvement in the requirement and greater average sellling cost of rough sawn wood.

Earnings per share for Q3 16 fell by 87% to 0.5 sen from 3.96 sen previously. Minho jobs a conditions moving amid the uncertainty blanketing the environment.

“The Group will keep its steps on price control strategies to mitigate against the increasing price of raw material and labour.

“Additionally, the Group may also continue to improve its operation and marketing strategies so as to achieve higher production efficiency and profit margins,” said Minho.