LIONCOR (3581) : Lion Corp posts net loss of RM85m in Q1
KUALA LUMPUR: Lion Corporation Bhd posted net losses of RM85.93mil in the first quarter ended Sept 30, 2014, which was narrower than the RM98.84mil a year ago due to the continuous losses by its steel division.
The company said on Monday its revenue increased by 26.5% to RM605.27mil from RM478.22mil a year ago. Loss from operations were at RM47.24mil while loss before taxation was RM108.95mil.
Net loss per share was 6.53 sen compared with 7.51 sen a year ago.
Lion Corp said the group was impacted by the weak international steel market and rising imports of steel products, which resulted in the low capacity utilisation and continuous losses for the steel division.
As for the property division, it continued to report satisfactory results.
In the immediate preceding quarter ended June 30, 2014, the revenue was RM657.42mil while loss from operations was RM85.32mil while loss before taxation was RM330.62mil.
http://www.thestar.com.my
KUALA LUMPUR: Lion Corporation Bhd posted net losses of RM85.93mil in the first quarter ended Sept 30, 2014, which was narrower than the RM98.84mil a year ago due to the continuous losses by its steel division.
The company said on Monday its revenue increased by 26.5% to RM605.27mil from RM478.22mil a year ago. Loss from operations were at RM47.24mil while loss before taxation was RM108.95mil.
Net loss per share was 6.53 sen compared with 7.51 sen a year ago.
Lion Corp said the group was impacted by the weak international steel market and rising imports of steel products, which resulted in the low capacity utilisation and continuous losses for the steel division.
As for the property division, it continued to report satisfactory results.
In the immediate preceding quarter ended June 30, 2014, the revenue was RM657.42mil while loss from operations was RM85.32mil while loss before taxation was RM330.62mil.
http://www.thestar.com.my
