Revenue for the quarter fell 3.5% to RM246.41 million from RM255.22 million in 3QFY15.
For the cumulative nine months period (9MFY16), the group’s net profit rose 18.1% to RM174.57 million or 16.36 sen a share from RM147.77 million or 15.55 sen a share in 9MFY15.
Revenue, however, dropped 11.5% to RM734.46 million in 9MFY16 from RM829.8 million a year ago.
In a filing with Bursa Malaysia yesterday, Yinson Holdings Bhd (YINSON, 7293) said the 3QFY16 performance benefitted from foreign-exchange gain of about RM38 million due to favourable currency fluctuation and reduction in realised loss on derivatives by RM5.31 million.
Yinson Holdings Bhd (YINSON, 7293) said going forward, the global growth is expected to remain moderate and while major advanced economies continue to improve, the pace of recovery will be modest.
It opines that downside risks to global growth remain high, arising from the moderating growth momentum in a number of major economies, uncertainty surrounding energy and commodity prices.
Amid this challenging global economic environment, the group expects to sustain satisfactory results for the full financial year ending Jan 31, 2016.
Yinson Holdings Bhd (YINSON, 7293)’s (valuation: 1.8; fundamental: 1.9) share price rose seven sen or 2.47% to close at RM2.90 yesterday, for a market capitalisation of RM3.09 billion.
YINSON (7293) - Yinson Holdings Bhd (YINSON, 7293) ’s 3Q net profit slips 1.2%
http://www.theedgemarkets.com/my/article/yinson%E2%80%99s-3q-net-profit-slips-12
