Tasek Corp earnings down on low volumes, Malaysia

Tasek Corp earnings down on low volumes, Malaysia
Published: 01 November 2011

Malaysian Cement maker Tasek Corp Bhd’s net profit dropped 32.9% to MYR22.10m (US$7m) in the third quarter ended September 30 from MYR32.90m a year earlier due to lower sales.

It told Bursa Malaysia that revenue for the period fell 7.5% to MYR132.99m against MYR143.78m while earnings per share were 17.82 sen compared with 20.63 sen previously.

It attributed the lesser earnings to lower volume in domestic cement sales following Hari Raya holidays during the quarter.