KUALA LUMPUR: JAKS Resources Bhd saw its net profit for the third quarter ended July 31, 2009 (3QFY09) plunge 86.17% to RM214,000, from RM1.55 million the previous year, despite higher revenue. The dip was due to the weakened selling price for steel related products.
According to a filing on Bursa Malaysia on Sept 30, the company’s revenue was up 18.4% to RM84.77 million, from RM71.6 million a year earlier, on higher recognition of works done for certain projects in the construction division.Its basic earnings per share fell to 0.05 sen, from 0.37 sen. No dividend was declared.
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