Hong Leong Industries’ FY19 net profit falls to RM327.08m

KUALA LUMPUR, Aug 29 — Hong Leong Industries Bhd’s net profit for the 2019 financial year ended June 30, 2019 fell to RM327.08 million from RM334.6 million in the same period last year.

Revenue, however, rose to RM2.75 billion from RM2.5 billion previously.

Hong Leong Industries in a filing to Bursa Malaysia today attributed the increase in revenue to higher sales and lower production costs from the consumer products segment.

On prospects, it said the performance of the consumer products segment is expected to be satisfactory, while industrial products remains challenging for the financial year ending June 30, 2020. — Bernama