SLP Resources Berhad Reports Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended September 30, 2013
November 14, 2013 at 11:35 pm EST
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SLP Resources Berhad reported unaudited consolidated earnings results for third quarter and nine months ended September 30, 2013. For the quarter, the company's revenue was MYR 43,103,000 against MYR 37,923,000 a year ago. Profit from operations was MYR 5,052,000 against MYR 2,964,000 a year ago. Profit before tax was MYR 5,064,000 against MYR 2,970,000 a year ago. Profit attributable to owners of the company was MYR 4,053,000 or 1.64 sen per basic share against MYR 2,196,000 or 0.89 sen per basic share a year ago. The higher revenue in the current quarter was mainly attributed to higher export and domestic sales. The favorable increase in PBT was due mainly to higher profit margins from the sales of flexible plastic packaging products for export and domestic market.
For the nine months, the company's revenue was MYR 120,600,000 against MYR 114,802,000 a year ago. Profit from operations was MYR 11,287,000 against MYR 10,092,000 a year ago. Profit before tax was MYR 11,351,000 against MYR 10,093,000 a year ago. Profit attributable to owners of the company was MYR 8,980,000 or 3.63 sen per basic share against MYR 7,799,000 or 3.15 sen per basic share a year ago. Net cash generated from operating activities was MYR 4,854,000 against MYR 8,980,000 a year ago. Acquisition of property, plant and equipment was MYR 6,223,000 against MYR 394,000 a year ago.
SLP Resources Berhad is a Malaysia-based investment holding company. The Company is engaged in the manufacturing and sale of plastic packaging products and plastic related goods, and trading of polymer products. The Company supplies its products to various sectors, including industrial, household, retail, food and beverages, health care and chemical sectors. It manufactures a range of flexible plastic packaging products and films for domestic and international markets. The Company's product categories include polybags and polyfilms. Its polybags category includes fashion bag, garbage bag, maxinflax, kitchen bag, printed bags for hygiene care products, hygienic packaging, and wicket bag. Its polyfilms category includes food packaging films, printed/non-printed sheetings, breathable PE back sheet, customized films, slit seal products and pre-opened perforated bags-on-roll. The Company's subsidiaries include Sinliplas Holding Sdn. Bhd., SLP Green Tech Sdn. Bhd. and SLP Polymers Sdn. Bhd.