CSCENIC (7202) - Icon, This export stock's profit rises 100%! (Q3 result)


CSCENIC (7202) - Icon, This export stock's profit rises 100%! (Q3 result)

Review of performance
The Group registered a revenue of RM14.0 million for the current quarter ended 30 September 2016, an increase of RM2.6 million or 22.8% compared to RM11.4 million in the corresponding quarter ended 30 September 2015 mainly due to higher sales volume from export of wooden picture frame moulding and the strengthening of US Dollar.
The Group's profit before tax was RM4.2 million, an increase of RM2.1 million or 100.0% as compared to RM2.1 million in the preceding year corresponding quarter ended 30 September 2015. The increase was mainly attributed to higher sales revenue and lower operating expenses as a result of lower fair value loss from foreign currency forward contracts. 
For the nine months ended 30 September 2016, the Group's revenue was RM43.8 million, an increase of RM4.9 million or 12.6% compared to the preceding year corresponding period of RM38.9 million mainly due to higher sales volume from export of wooden picture frame moulding and the strengthening of US Dollar. The profit before tax improved by RM5.3 million or 58.2% to RM14.4 million as compared to RM9.I million in the preceding year corresponding period attributed mainly to the reasons as explained above and lower operating expenses as a result of fair value gain from foreign cunencv forward contracts. 
CSCENIC (7202) - Icon, This export stock's profit rises 100%! (Q3 result)
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CSCENIC (7202) - Icon, This export stock's profit rises 100%! (Q3 result) CSCENIC (7202) - Icon, This export stock's profit rises 100%! (Q3 result) Reviewed by admin on 11/19/2016 Rating: 5
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