China recovery lifts IFCA MSC 2Q earnings

TheStar Fri, Aug 21, 2020 07:08pm - 3 years View Original


KUALA LUMPUR: IFCA MSC Bhd posted net profit of RM3.67mil in the second quarter ended June 30,2020 mainly due to rapid recovery in China economy and lower overall operating costs despite lower revenue.

It said on Friday this was much better than the RM1.04mil a year ago. Its revenue was lower at RM20.50mil compared with RM21.08mil a year ago. Earnings per share were 0.6 sen compared with 0.17 sen.

“The decrease in revenue was primarily attributable to project slowdown in both Malaysia and Indonesia after the implementation of Movement Control Order (MCO) in Malaysia from 18th March 2020 and large-scale social restriction in Indonesia since April, ” it said.

IFCA MSC said revenue rose by 33.9% to RM20.5mil from RM15.3mil in 1Q mainly due to rapid recovery in China after being disrupted by the Covid-19 outbreak in 1Q.

...

Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

IFCAMSC 0.330

Comments

Login to comment.