SIG Gases Berhad announced unaudited consolidated earnings results for the second quarter and six months period ended June 30, 2018. For the quarter, the company's reported revenue of MYR 18,805,000 against MYR 19,084,000 a year ago. Profit before tax was MYR 1,236,000 against MYR 1,276,000 a year ago. Total comprehensive income attributable to ordinary equity holders of the parent was MYR 841,000 against MYR 910,000 a year ago. Basic and diluted earnings per share were 0.45 sen against 0.49 sen a year ago.

For the six months, the company's reported revenue of MYR 37,550,000 against MYR 37,239,000 a year ago. Profit before tax was MYR 2,376,000 against MYR 3,137,000 a year ago. Total comprehensive income attributable to ordinary equity holders of the parent was MYR 2,510,000 against MYR 2,258,000 a year ago. Basic and diluted earnings per share were 1.34 sen against 1.20 sen a year ago. Net cash used in operating activities was MYR 1,004,000 against net cash generated from operating activities MYR 4,199,000 a year ago. Purchase of property, plant and equipment was MYR 2,105,000 against MYR 4,390,000 a year ago.

For the quarter, the company reported writes off of property, plant and equipment of MYR 5,000 against MYR 2,000 a year ago.

For the year 2018, While Malaysian overall industrial environment is expected to remain challenging in 2018, the result of the recent 14 General Election and the change of government may have an impact on the economic environment of the country, particularly the '0' rated GST and the introduction of Sales and Service Tax will have a favorable impact on the sentiment and purchasing power of the consumers. Despite the challenging times ahead, the management will continue to be cost conscious and to improve productivity of operations. The management shall continue to explore investment opportunities to widen the group's revenue base to improve efficiencies of its capital resources and to enhance the return to the shareholders. Earnings growth in 2018 is expected to be driven by the revenue contributed by increased investment in Nitrous Oxide plant and upgrading of ASU plant to improve cost efficiency.