Home English News Business Hong Leong Industries profit jumps in FY21

Hong Leong Industries profit jumps in FY21

Hong Leong Industries profit jumps in FY21

KUALA LUMPUR, Sept 20 (Bernama) — Hong Leong Industries Bhd recorded a higher net profit of RM291.88 million in the financial year ended June 30, 2021 (FY2021) from RM169.32 million in FY2020.

Revenue edged up to RM2.63 billion from RM2.31 billion previously contributed by higher sales across all product segments and improved operational efficiencies which reduced cost, it said in a filing with Bursa Malaysia today.

For the fourth quarter, Hong Leong Industries posted a net profit of RM39.84 million from a net loss of RM29.57 million in the same period last year propped up by a higher revenue of RM463.8 million during the quarter from RM311.11 million in the fourth quarter of last year.

“The COVID-19 pandemic continues to be the greatest uncertainty to be managed.

“Barring any further Movement Control Orders, the board expects the group’s performance for the financial year ending June 30, 2022 to be satisfactory,” it added.

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