KUALA LUMPUR: MALAYSIA SMELTING CORPORATION [] Bhd posted net profit RM28.28 million for the first quarter ended March 31, 2011 compared to net loss RM29.13 million a year earlier, due mainly to higher tin prices.
Revenue for the quarter rose 13.3% to RM737.87 million from RM651.18 million. Earnings per share was 30.40 sen while net assets per share was RM3.89.
In a filing to Bursa Malaysia on Monday, May 9, MSC said the increase in net profit was due mainly to higher operating profits by its tin mining and smelting operations in Malaysia and Indonesia on the back of higher tin prices.
On its current year prospects, MSC said it expects its overall performance for 2011 to be better than last year.
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