EON posts lower profit due to Proton and Mitsubishi sales.Read the full news from Bernama below.
EON POSTS LOWER Q1 PRE-TAX PROFIT OF RM12.806 MLN.
Edaran Otomobil Nasional Bhd (EON)’s pre-tax profit for the first quarter ended June 30, 2009 declined by 29.5 per cent to RM12.806 million from RM18.174 million in the same quarter last year.
The company’s revenue fell by 5.2 per cent to RM627.770 million from RM662.306 million previously.
In a filing to Bursa Malaysia here today, the company said the lower revenue in the first quarter was mainly due to lower Proton and Mitsubishi vehicle sales.
The company’s earnings per share slipped to 4.09 sen from 6.19 sen previously.
On the second half of this year, EON said that despite expectations of improved sales, it would continue to initiate appropriate measures to mitigate the impact from the economic uncertainty.
Amidst the challenging time ahead, the board expects the group’s results to remain positive for the financial year ending March 31, 2010.