LB Aluminium net profit increased 39%

Manufacturer and supplier of aluminium extrusion products LB ALUMINIUM BHD said that its net profit for the second quarter (2Q) ended Oct 31, 2012 increased by RM884,000 or 39.4% to RM3.13 million.

In an announcement to Bursa Malaysia, LB Aluminium's revenue increased by RM2.85 million or 3.1% to RM95.24 million, as oppose to RM92.39 million of revenue in the corresponding quarter.

The improvement in the group's top line was due to higher business volume during the quarter under review, compared with the same quarter last year, while lower operating expenses has boosted its bottom line, LB Aluminium said in the announcement.

On a cumulative basis for the first six months of the financial year, LB Aluminium recorded RM6.06 million in net profit, a marginal increase compared with RM6.02 million during the same period last year.

Its revenue during the six month period increased by RM4.93 million or 2.6% from RM189 million recorded in the first six month of financial year 2012 ended April 30.

Revenue from Malaysia stood at RM139.4 million or 71.9% from LB Aluminium's total revenue as at to date.

Its board of directors said moving forward, the group would continue to focus on efficiencies by continuously reducing costs and improving throughput.

"While recognising the fact that the CONSTRUCTION sector would remain robust, which is an opportunity for us to grow our revenue, the group has also acknowledge the challenges post by rising operating costs," it stated.