A Bursa Malaysia filing by Hong Leong Industries (HLI) saw the public listed company declare a rise in net profit of 60.3%. Equating to RM140.56 million in cash value, the report is for the first quarter ending Sept 30 from RM87.67 million a year ago.
In terms of earnings per share, this rose to 44.66 sen from 27.86 sen for the first quarter of the 2024 financial year. Quarterly revenue saw an increase of 11.2%, from RM835.88 million to RM929.75 million as reported by The Edge Malaysia.
This was attributed in the filing to higher sales amid the increased market demand for motorcycles and a RM12.6 million gain from sale of land. HLI declared an interim dividend of 25 sen per share to be paid on December 24, higher than the 20 sen dividend paid last year.
“Motorcycle demand has improved and is expected to remain robust in the upcoming quarters. The group continues to manage production optimisation for a better mix and cost to sustain its performance,” as explained in the report. HLI, part of the Hong Leong Group, is the holding company having majority equity in Hong Leong Yamaha Motor (HLYM).
