Milux Corporation Berhad Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016; Provides Earnings Guidance for the Year 2016
Milux Corporation Berhad reported unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company's revenue was MYR 16,484,000 against MYR 18,041,000 a year ago. The reduction in revenue was due to lower export sales. Loss from operations was MYR 294,000 against profit of MYR 145,000 a year ago. Loss before tax was MYR 344,000 against profit of MYR 90,000 a year ago. Loss for the period was MYR 495,000 against MYR 339,000 a year ago. Loss attributable to owners of the parent was MYR 495,000 against MYR 339,000 a year ago. Basic loss per share attributable to owners of the parent was 0.91 sen against 0.62 sen a year ago. Net cash used in operating activities was MYR 481,000 against net cash from operating activities of MYR 2,676,000 a year ago. Purchase of property, plant and equipment was MYR 579,000 against MYR 98,000 a year ago.
Barring any unforeseen circumstances, the Group is still confident of achieving better performances over the remainder quarters of financial year 2016.