Goh Ban Huat Bhd Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Provides Financial Guidance for the Second Half of 2012
August 31, 2012
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Goh Ban Huat Bhd announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, revenue was MYR 11,438,000 against MYR 10,386,000 for the same period a year ago. Loss before tax was MYR 290,000 against profit before tax of MYR 16,000 for the same period a year ago. Loss attributable to owners of the parent was MYR 290,000 or 0.15 sen per diluted share against profit attributable to owners of the parent of MYR 16,000 or 0.01 sen per diluted share for the same period a year ago.
For the six months, revenue was MYR 22,464,000 against MYR 20,655,000 for the same period a year ago. Loss before tax was MYR 486,000 against profit before tax of MYR 22,000 for the same period a year ago. Loss attributable to owners of the parent was MYR 486,000 or 0.25 sen per diluted share against profit attributable to owners of the parent of MYR 22,000 or 0.01 sen per diluted share for the same period a year ago. Net cash used in operating activities was MYR 58,000 against net cash generated from operating activities of MYR 13,000 for the same period a year ago. Purchase of property, plant and equipment was MYR 1,103,000 against MYR 1,057,000 for the same period a year ago.
The company announced that its operating environment, principally within the ceramic building materials industry, remains difficult and challenging, with intense competition from imports sourced from cheaper cost manufacturing countries. However, the Group has taken measures to discontinue manufacture of lower margin products, strengthen its core business in the clay pipes division and undertaken cost reduction measures which should result in better performance for the Group in the remaining quarter of the financial year.
Paragon Globe Berhad is a Malaysia-based investment holding company. The Company has diversified its interest in property investment, property development, property construction and other property-related businesses. The Companyâs segments include Investment, Property development, and Construction. The Investment segment is engaged in investment holdings. The Property development segment is engaged in the business of trading and development of properties. The Construction segment is engaged in the business of construction of buildings, roads and railways and other specialized construction activities. The Companyâs subsidiaries include Paragon Bizhub Sdn. Bhd., Paragon Business Hub Sdn. Bhd., PGBG Construction Sdn. Bhd., Paragon Platinum Sdn. Bhd., Paragon Globe Properties Sdn. Bhd. and Builtech Acres Sdn. Bhd.
Goh Ban Huat Bhd Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Provides Financial Guidance for the Second Half of 2012