SIG Gases Berhad reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported revenue of MYR 21,507,000 against MYR 19,000,000 for the same period a year ago. During the quarter, revenue for the quarter was 13.19% up as compared to the corresponding quarter in the last year. This was largely attributed to higher sales in acetylene, special gases and refrigerant in the current quarter with strong demand from manufacturing sector. Profit before tax was MYR 1,055,000 against MYR 844,000 for the same period a year ago. The group posted a profit before tax up by MYR 0.22 million or 26.19% as compared to corresponding quarter with a share of profit from the associate company went up by MYR 0.29 million to MYR 0.57 million in the third quarter of 2018. Profit after tax and total comprehensive income was MYR 835,000 against MYR 1,247,000 for the same period a year ago. Earnings per basic and diluted share were 0.45 sen against 0.67 sen for the same period a year ago.

For the nine months, the company reported revenue of MYR 59,057,000 against MYR 56,239,000 for the same period a year ago. The higher revenue was mainly due to increase in liquid nitrous oxide sales by MYR 0.48 million and refrigerant products by MYR 1.88 million. Profit before tax was MYR 3,431,000 against MYR 3,981,000 for the same period a year ago. Profit before tax was lower by MYR 0.55 million as compared with the corresponding period in year 2017 mainly due to higher selling and administrative expenses by MYR 0.92 million together with higher depreciation charge and payroll cost. Profit after tax and total comprehensive income was MYR 3,345,000 against MYR 3,505,000 for the same period a year ago. Earnings per basic and diluted share were 1.78 sen against 1.87 sen for the same period a year ago.

For the third quarter ended September 30, 2018, the company reported write off of property, plant and equipment of MYR 13,000 against MYR 8,000 for the same period a year ago.