KUALA LUMPUR (May 24, 2012): Carbon steel fastener manufacturer Chin Well Holdings Bhd’s net profit for the third quarter ended March 31 2012 (Q3) increased 3.7% to RM5.9 million from RM5.7 million a year ago.
Revenue grew 6.7% to RM117.8 million from RM110.4 million.
Managing director Tsai Yung Chuan said despite the dampened sentiment in the European Union (EU), the company still managed to register single-digit revenue and net profit growth in the quarter.
“It is understandable that the still-unresolved economic crisis in the EU affected the overall demand for fastener.
“In addition, the third quarter is typically a slower quarter, due to fewer working days resulting from various festive seasons,” he said in a statement today. (…)
