SIG Gases Berhad announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the year, the company reported revenue of MYR 18,745,000 against MYR 18,155,000 a year ago. Profit before tax was MYR 1,140,000 against MYR 1,861,000 a year ago. Profit for the period was MYR 1,669,000 against MYR 1,348,000 a year ago. Profit attributable to ordinary equity holders of the parent was MYR 1,663,000 against MYR 1,348,000 a year ago. Basic and diluted earnings per share were 0.89 sen against 0.72 sen a year ago. Net assets per share attributable to ordinary equity holders of the parent were MYR 0.6800. Net cash generated from operating activities was MYR 665,000 against MYR 3,032,000 a year ago. Purchase of property, plant and equipment was MYR 344,000 against MYR 624,000 a year ago.

Despite the uncertainty posed by the macroeconomic environment, the company believes that with continued various cost-savings exercises, re-alignment of assets, and gradual increase in revenue from completed expansion projects and continuous investment to widen revenue base, the company remains cautiously optimistic about performance for year 2018.

For the quarter, the company reported write off of property, plant and equipment of MYR 8,000 against MYR 36,000 a year ago.