KIM HIN posted an 112% jump in net profit (Edge)

KIM HIN INDUSTRY BHD posted an 112% jump in net profit to RM9.2 million from RM4.34 million for the second quarter (2Q) ended June 30, 2009 compared to the corresponding quarter last year.

In a statement to Bursa Malaysia yesterday, the ceramic tile producer and distributor attributed the 51.5% increase in profit before tax to higher group revenue, unrealised foreign exchange gains and lower operational costs.

Kim Hin recorded a 1.5% improvement in revenue to RM63.3 million in 2Q from RM62.3 million a year earlier. Earnings per share rose 53% to 6.59 sen from 3.07 sen previously. No interim dividend was proposed.