KUALA LUMPUR (Nov 11): Hong Leong Industries Bhd's (HLInd) net profit jumped 33.5% to RM48.2 million in the first quarter ended Sept 30, 2014 (1QFY14), from RM36.1 million in the previous corresponding quarter, primarily due to a favourable sales mix and lower production costs for its consumer products segment.
 
Revenue for the period was however largely flat, at RM524.5 million, up just 1.5% from RM516.5 million a year ago.
The group has also declared an interim dividend of 12 sen per share in the reviewed quarter.
 
It told Bursa Malaysia in a filing today that the higher profit was also enhanced by a gain of RM12.6 million arising from the redemption of investment in unit trust.
 
Its revenue for 1QFY14 was largely flat, at RM524.5 million, up just 1.5% from RM516.5 million a year ago.
 
On prospects ahead, HLind expects its performance to be satisfactory for its consumer products segment and industrial products segment in the financial year ending June 30, 2015.
 
HLInd ended the day 4 sen or 0.9% higher at RM4.62, translating to a market capitalisation of RM1.48 billion.