General

Leon Fuat Berhad Posts 470% Rise in Quarterly PAT




SHAH ALAM, Malaysia, Nov 29, 2021 – (ACN Newswire) – Leon Fuat Berhad (Leon Fuat), a manufacturer and trader of steel products, specialising in rolled prolonged and flat products, is gay to yell at present time that the Group recorded a 470.4% manufacture in earnings after tax (PAT) to RM38.66 million for the third quarter ended 30 September 2021 (Q3FY2021) when put next with RM6.78 million in the corresponding quarter of the earlier year (Q3FY2020).


Calvin Ooi Shang How, Executive Director of Leon Fuat


For the quarter below analysis, the Firm registered a 44.1% amplify in earnings to RM236.11 million when put next with RM163.82 million in Q3FY2020 whereas earnings sooner than tax (PBT) recorded a 447.0% manufacture to RM49.14 million when put next with RM8.98 million in Q3FY2020.

On a segmental foundation, earnings from shopping and selling of steel products elevated by 65.7% to RM94.81 million whereas earnings from the processing of steel products elevated by 32.6% to RM141.22 million. The shopping and selling segment’s contribution to earnings stood at 40.2% in Q3FY2021 when put next with 34.9% in Q3FY2020 whereas the processing segment’s contribution to earnings stood at 59.8% when put next with 65.0% in Q3FY2020.

For the 9 months ended 30 September 2021 (9M2021), PAT grew 918.5% to RM106.89 million when put next with RM10.50 million registered in the corresponding length of the earlier monetary year (9M2020). PBT elevated by 815.2% to RM134.24 million when put next with RM14.67 million recorded in 9M2020 whereas earnings rose 61.9% to RM632.37 million when put next with RM390.61 million recorded in 9M2020.

Calvin Ooi Shang How, Executive Director of Leon Fuat said, “In overall, our enterprise was as soon as not severely struggling from the circulation restrictions in 9M2021 whereas higher total earnings along with higher sinful earnings margins supported our monetary efficiency. On the opposite hand, we show that whereas there may well be doubtless rebound in home economic activities that will lead to restoration in the arriving quarter, we are in a position to design up the continuing risks from provide disruptions persistently amid a resurgence in COVID-19 infections in obvious economies.”

“We are taking proactive measures to make obvious that enterprise continuity and sustainability given the volatile enterprise landscape. These measures consist of maintaining vigilant on steel sign movements and linked international currency, taking proactive measures including negotiating forward contracts, the put valuable, moreover to prudent stock administration whereas repeatedly enhancing the working capabilities and efficiencies to meet customers’ requirements and maintaining our working costs at a manageable level.”

About Leon Fuat

Leon Fuat Berhad (‘Leon Fuat’ or the ‘Group’) basically in the enterprise of shopping and selling, processing and/or manufacturing (collectively known as “processing”) of steel products, specialising in rolled prolonged and flat products.

The Group’s shopping and selling activities encompass a huge portfolio of steel products, which contains flat products equivalent to coils, plates, sheets, welded tubes, and pipes, welded rectangular and square sections, and prolonged products equivalent to bars, rods, shafts, sections, angles, channels and seamless tubes and pipes.

The Group’s processing enterprise is synergistic to the shopping and selling operations. As half of the Group’s sign-added activities, Leon Fuat undertakes processing activities in the develop of reducing, leveling, shearing, profiling, bending, finishing and production of welded steel pipe and expanded steel.

As a longtime title, Leon Fuat has a solid portfolio of customers of bigger than 3,000 and be pleased a prolonged-standing relationship with customers.

For more data, please consult with www.leonfuat.com.my.

Issued by: Swan Consultancy on behalf of Leon Fuat Berhad

Date: 29 November 2021

Please contact the below for more data:

Hakim Juraimi

Tel: +60 12-318 5410

Electronic mail: [email protected]

Kahjin Gan

Tel: +60 16-555 5187

Electronic mail: [email protected]


Matter: Press liberate summary



Provide: Leon Fuat Berhad


Sectors: Metals & Mining, Local Biz


http://www.acnnewswire.com


From the Asia Corporate News Network

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