DRB-Hicom Bhd’s first quarter ended June 30, 2014 net profit surged to RM107.83mil from RM10.25mil a year ago.
In a statement to Bursa Malaysia on Thursday, the automotive company’s revenue for the period rose 21.9% to RM3.724bil from RM3.054bil a year ago.
Earnings per share for the period stood at 5.58 sen against 0.53 sen a year earlier.
The national car producer said its improved performance was largely attributed to stronger performance in the automotive and defence, and services sectors, as well as continued improvements in operating efficiencies and cost containment.
Group managing director Tan Sri Mohd Khamil Jamil said that higher recognition of revenue from the defence projects as well as the inclusion of new revenue streams from Composites Technology Research Malaysia Sdn Bhd and Konsortium Logistik Bhd have contributed to the increase in revenue for the quarter.
Moving forward, he said the group is optimistic that it would be able to achieve satisfactory performance for the financial year ending March 31, 2015
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