Hup Seng Industries Bhd reported consolidated unaudited earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported revenues of MYR 64,588,000 compared with MYR 64,443,000 for the same period a year ago. Operating profit was MYR 13,378,000 compared with MYR 15,474,000 for the same period a year ago. Profit before tax was MYR 13,378,000 compared with MYR 15,474,000 for the same period a year ago. Profit attributable to owners of the parent was MYR 9,957,000 or 1.24 sen per basic and diluted share compared with MYR 11,565,000 or 1.45 sen per basic and diluted share for the same period a year ago. The company said the lower profit was due to the decline in domestic revenue and higher input costs.

For the nine months, the company reported revenues of MYR 202,848,000 compared with MYR 206,789,000 for the same period a year ago. Operating profit was MYR 45,570,000 compared with MYR 52,852,000 for the same period a year ago. Profit before tax was MYR 45,570,000 compared with MYR 52,852,000 for the same period a year ago. Profit attributable to owners of the parent was MYR 33,982,000 or 4.25 sen per basic and diluted share compared with MYR 39,344,000 or 4.92 sen per basic and diluted share for the same period a year ago. Net cash flows from operating activities was MYR 29,671,000 compared with MYR 37,653,000 for the same period a year ago. Purchase of property, plant and equipment was MYR 13,853,000 compared with MYR 1,627,000 for the same period a year ago.

For the year 2016, the company is not expecting to achieve the same level of profit as the previous year, but the company would endeavour to sustain its existing market share.