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For The Second Quarter Ended 30 June 2008
Condensed Consolidated Income Statements
(The figures have not been audited)
Note:
The Condensed Consolidated Income Statements should be read in conjunction with the annual financial statements for the financial year ended 31 December 2007 and the accompanying explanatory notes attached to the interim financial statements.
Condensed Consolidated Balance Sheets
The figures have not been audited)
Note:
The Unaudited Condensed Consolidated Balance Sheet should be read in conjunction with the annual financial statements for the financial year ended 31 December 2007 and the accompanying explanatory notes attached to the interim financial statements.
Review of Performance
The Group recorded revenue of RM 27.6 million and RM 55.9 million respectively for the current quarter and financial period ended 30 June 2008. There was a marginal decrease of 1.7% in revenue as compared to the preceding year's corresponding quarter's revenue due to lower local projects secured and completed in the quarter. However, the Group recorded slightly higher revenue for both local and export markets for the period ended 30 June 2008 as compared to the corresponding period in 2007, despite the current underlying uncertainties in market conditions.
Profit before taxation however declined to RM 1.8 million, a drop of 40.4% as compared to the previous year's corresponding quarter. Profit was affected by significant increases in raw material prices and higher production costs, in tandem with high inflationary pressures caused by record high global crude oil price and other commodity prices. Nevertheless, profit before taxation for the six month period was only marginally lower as compared to the previous year's corresponding period.
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