Y&G Corporation Bhd Announces Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Announces Consolidated Goodwill on Consolidation Written-Off for the Fourth Quarter Ended December 31, 2016; Provides Earnings Guidance for the Financial Year Ending December 31, 2017
For the year, the company reported revenue of MYR 116,428,000 compared to MYR 165,626,000 a year ago. Profit From operations was MYR 25,509,000 compared to MYR 36,993,000 a year ago. Profit before tax was MYR 25,947,000 compared to MYR 38,430,000 a year ago. Profit attributable to owners of the parent was MYR 18,431,000 or 6.92 sen per diluted share compared to MYR 29,123,000 or 10.94 sen per diluted share a year ago. Net cash used in operating activities were MYR 522,000 compared to net cash generated from operating activities of MYR 40,411,000 a year ago. Acquisition of property, plant and equipment was MYR 506,000 compared to MYR 1,168,000 a year ago.
For the quarter, the company's goodwill on consolidation written-off was MYR 3,000.
Despite the unfavourable economic climate in Malaysia, the Group's performance for the financial year ending December 31, 2017 is expected to remain satisfactory.