Leon Fuat Berhad Posts 1,110% Soar in Get Profit

Neighborhood records RM32.12 million in PAT supported by solid pass income margin sigh

SHAH ALAM, Malaysia, Sept 9, 2021 – (ACN Newswire) – LEON FUAT BERHAD (“Leon Fuat” or the “Neighborhood”), a producer and trader of metal products, specialising in rolled prolonged and flat products, this day announced that the Neighborhood registered a 1,110.1% sigh in income after tax (“PAT”) to RM32.12 million for the quarter ended 30 June 2021 (“2Q 2021”) when put next with the RM2.65 million recorded for the quarter ended 30 June 2020 (“2Q 2020”).

The solid impact in PAT was attributable to the 322.5% amplify in pass income (“GP”) to RM53.46 million in 2Q 2021 boosted by higher overall pass income margin of 17.0 share sides when put next with the RM12.65 million in GP recorded for 2Q 2020.

The Neighborhood recorded 73.1% sigh in income to RM184.78 million for the quarter under evaluate when put next with RM106.76 million recorded in 2Q 2020. On a segmental basis, income from buying and selling of metal products elevated 74.0% to RM73.88 million while income from processing of metal products elevated by 72.7% to RM110.85 million. The a part of income from the buying and selling section stood at roughly 40.0% for 2Q 2021 while the a part of income from the processing section stood at roughly 60.0%.

For the six months ended 30 June 2021 (“1H 2021”), PAT elevated by 1,735.5% to RM68.23 million when put next with the RM3.72 million recorded in the six months ended 30 June 2020 (“1H 2020”). For the length under evaluate, PAT was supported by the 308.8% amplify in GP to RM106.80 million when put next with RM26.12 million recorded for GP in 1H 2020. The impact in GP for 1H 2021 was boosted by the 74.7% amplify in income to RM396.26 million when put next with the RM226.79 million recorded in income for 1H 2020 as well to higher overall pass income margin, which gained 15.5 share sides to 27.0% in 1H 2021 when put next with 11.5% in 1H 2020.

Calvin Ooi Shang How, Govt Director of Leon Fuat stated, “We are entirely happy with the obvious consequence, and we remain optimistic for the the rest of the year although there are uncertainties affecting this outlook.”

The surge in metal prices globally since final year is supported by economic recovery and the slack reopening of economies world vast. The expected rebound will unleash pent-up industrial seek recordsdata from that would optimistically preserve upward momentum for the metal sector.

“For Malaysia, we are seeing a slack leisure of containment measures alongside the like a flash development of the home vaccination programme would consequence in rebound of the economy. We enhance the authorities measures to transition society support to normality soon and an emphasis on rejuvenating the economy.”

“We are dedicated to proceed with the obvious momentum, constructing on our solid fundamentals and the continuing enhance from our investors.”

Please contact the under for more recordsdata:

Hakim Juraimi

Electronic mail: [email protected]

Topic: Earnings

Provide: Leon Fuat Berhad

Sectors: Metals & Mining, Native Biz

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