From melewar latest quarter notes submitted to Bursa Malaysia:
For the six months ended 31st July 2005, the Group recorded a total revenue of RM322.4 million compared to the corresponding period of the preceding year of RM273.0 million.
For the six months ended 31st July 2005, the Group’s profit before tax was RM17.0 million compared to the corresponding period of the preceding year of RM40.3 million.
Mycron Steel Berhad, the Company’s principal subsidiary, recorded revenue of RM 202.4 million and profit before tax of RM 15.7 million for the six months ended 31st July 2005.
Compared to the immediate preceding quarter, group revenue decreased by 14.8% from RM174.1 million to RM148.4 million due to lower sales volume. The group profit before tax decreased by 55.9% from RM11.8 million to RM5.2 million due to a decrease in profit margins caused by higher raw material costs and lower selling prices.
It will continue to be a challenging environment in view of the downturn in the domestic construction industry and the volatility of the international steel prices.
1st Quarter of 2007 EPS = 2.66sen
