KUALA LUMPUR (Aug 2): Malaysia Marine and Heavy Engineering (MMHE) net profit for the second quarter ended June 30, 2012 slumped 70% to RM55.32 million compared to RM79.02 million a year earlier.
The shrinking profit was registered despite higher revenue of RM965.71 million in the reported quarter, compared to RM957.80 million scored in the second quarter of the preceding financial year.
Accordingly, the earnings per share also fell to 3.5 sen from 4.9 sen. However, net assets per share rose to RM1.60 from RM1.49.
In a filing to the stock exchange on Thursday, MMHE also said net profit for the six months ended June 30 this year fell to RM133.59 million, down from RM207.93 million in the first half of 2011.
Total revenue also fell to RM1.63 billion from RM1.88 billion, and EPS fell to 8.3 sen from 13 sen.