19 May, 2005
KOSSAN RUBBER POSTS UNAUDITED AFTER TAX
The Group has recorded significantly higher profit for the first quarter ended 31 March 2005 compared to the same quarter of its preceding financial year ended 31 March 2004 riding on the higher revenue achieved during the first 3 months.
Net Profit surged 34.5% to RM7.0 million from RM5.2 million recorded
in the preceding year corresponding quarter, while revenue also increased
by 45.0% to RM85.4 million from RM58.9 million recorded in the preceding
year corresponding quarter. The higher net profit and revenue achieved
were mainly due to increased turnover with the new 9 production lines
which are fully operational since early of this year.
Riding on the strong demand growth in both latex gloves and technical rubber products, the Board of Directors is confident that the Group would be able to continue to record better results in the next quarter. Mr. Lim Kuang Sia, Managing Director of Kossan Rubber Industries Bhd is committed to grow both the Technical Rubber Product and Glove divisions.