Higher sales boosts Hup Seng’s profit by 34%
Hup Seng Industries Bhd reported a 34.76% growth in net profit to RM12.6 million in Q4 of 2014.
The growth in earnings was due to increased domestic and export sales.
Its revenue rose 10.4% to RM73.65 million.
Moving forward, the company expects 2015 to be challenging as it noted that a faltering Eurozone and China, coupled with disinflation, will probably pose the biggest threat to the global economy this year.
Hup Seng’s higher net profit may be positive. It gives the food company more funds for dividends distribution & re-investment for future earnings.
Here are the other headlines in the Malaysian business news for today:
- F&N reports marginal increase in profits
- Amway’s profit plunged 19.7% on higher expenses
- IHH to jointly bid for a stake in India hospital operator
- CIMB to close offices in Sydney and Melbourne
- Malaysia’s industrial output rose 7.4%
- Ringgit drops as oil resumes decline
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