SYF Resources' 2Q net profit grows marginally, revenue up 17.2% By Neily Syafiqah Eusoff / theedgemarkets.com | March 16, 2017 : 7:45 PM MYT Printer-friendly versionSend by emailPDF version Translated by Google Translator: Select Language▼ KUALA LUMPUR (March 16): SYF Resources Bhd saw its net profit for the second quarter ended Jan 31, 2017 (2QFY17) rise 0.38% to RM10.47 million, from RM10.43 million a year earlier.
The group said the rise was marginal due to additional developments costs incurred for on-going projects, namely Kiara Plaza and Lavender Residence.
Revenue rose 17.21% to RM125.87 million, from RM107.39 million for 2QFY16, on increased contribution from the property development segment and sales of boards.
“The revenue from the property development increased by RM15.8 million from on-going projects, as a result of consistent construction progress and improved sales, especially from the residential project, Lavender Residence Block B.
“Sales of boards increased by RM5.9 million, due to higher output from medium-density fibreboard plant,” said SYF in a bourse filing.
For the first six months of FY17 (1HFY17), SYF posted a net profit of RM22.17 million, an increase of 4.29% from RM21.26 million in 1HFY16. Revenue climbed 35.72% to RM274.58 million, from RM202.32 million in 1HFY16.
SYF said moving forward, operating conditions are expected to remain challenging for FY17.
“Despite the market conditions, the group expects the results to remain satisfactory,” it said.
SYF’s share price closed up one sen or 1.71% to 59.5 sen today, for a market capitalisation of RM365.29 million.
Not a brilliant gem, holding it from 61 sen to 50 sen then back 61 sen then yoyo forth and back before breaking 0.655 and sold all and never look back then.
It fall below 60sen and languishing here now.
Anything to do with Insas Dato Thong is slow moving.
Don't waste the time and resources on these stocks.
yes real useless. Invest in this company cannot see our money grow. So slow never mind, go down some more. Now wan to clear off this ctr also scare it might come again.
they are expanding their capacity aggressively. So, going forward, this company will grow. If stock run fast, I am happy. If slow, it is opportunity to slowly accumulate
Icon8888, well that's positive. Another angle to look at it. This ctr got fundamental, making profit and like what u say expanding their capacity so I really don't see why the price cannot move up. Just that it is really frustrating looking at other ctrs move up and this ctr move down. Doesn't make sense.
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TEOH88
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Posted by TEOH88 > 2017-03-08 09:08 | Report Abuse
bye bye or buy buy?