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Financials
Quarterly report for the financial period ended 30 September 2011
Financials Archive
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Unaudited Condensed Consolidated Income Statement
For the period ended 30 September 2011
Unaudited Condensed Consolidated Statement of Financial Position
As at 30 September 2011
Review of Performance of the Company and its Principal Subsidiaries
Group revenue increased by 26.0% to RM907.04 million for the 3rd quarter of 2011 from RM719.96 million for the corresponding quarter of the previous year. For the current financial year-to-date, Group revenue increased by 25.2% to RM2,497.54 million from RM1,994.27 million for the corresponding period of the previous year. The increase in revenue was mainly due to higher tin production and higher average tin prices.
The Group recorded a 121.7% increase in its pre-tax profit to RM51.91 million before unusual items for the 3rd quarter of 2011, from RM23.41 million achieved in the corresponding quarter of the previous year. This was contributed by higher profits by its tin mining and smelting operations in Malaysia and Indonesia mainly due to improved operating performance as well as higher average tin prices. For the 9 months of the current financial period, Group pre-tax profit before unusual items was RM151.08 million, a 123.7% increase from RM67.55 million for the corresponding period of the previous year, due to the same reasons stated above. The Group's investment in its 30% jointly controlled entity in the Philippines, KM Resources Inc also reported a better result than the corresponding period of the previous year.
Current Year Prospects
Moving forward the operating environment is expected to be difficult and challenging due to weaker demand for commodities arising from the prevailing global economic slowdown and the on-going uncertainty in the global financial market following the sovereign-debt crisis in the Euro zone. Nonetheless, the Board expects the overall performance of the Group to remain profitable in the fourth quarter of the year 2011.
