Hup Seng Industries Bhd noticed a big surge in internet revenue by 187.13% to RM8.72 million within the second quarter ending June 30, 2023, in comparison with RM3.04 million in the identical interval final yr.
The biscuit producer earnings per share rose to 1.09 sen from 0.38 sen.
The corporate’s income for the quarter marked a ten.49% enhance, reaching RM81.55 million, with home gross sales rising by 11% to RM6.3 million.
Export markets additionally improved, rising round 9% to RM1.4 million, primarily from Singapore and Indonesia.
For the primary six months, internet revenue almost doubled to RM18.39 million, whereas cumulative income grew 9.71% to RM167.93 million.
Hup Seng goals to maintain its biscuits’ recognition as a substitute staple meals and preserve product high quality to strengthen market presence.
Amid this constructive trajectory, Hup Seng is cautiously optimistic about attaining passable enterprise operations for the remainder of the monetary yr.
Hup Seng’s shares closed larger by half a sen, marking a 0.77% enhance, at 65.5 sen. This noticed it’s market capitalisation reaching RM524 million. –TMR