Hong Leong Industries posts lower pre-tax profit for Q1

KUALA LUMPUR, Nov 29 – Hong Leong Industries Bhd’s pre-tax profit for the first quarter ended Sept 30, 2012 declined to RM44.65 million from RM58.76 million in the same quarter last year.

However, revenue rose to RM556.23 million from RM540.02 million, the company said in a filing to Bursa Malaysia today.

The lower pre-tax profit was due to operating margins for both the consumer and industrial products which were affected by higher production costs due to lesser working days and unfavourable foreign exchange rates, it said.

“Barring any unforeseen circumstances, the board expects the group’s performance for both consumer products and industrial segment products to be satisfactory for the financial year ending June 30, 2013,” it added. – Bernama