A Quick Look At Perstima's Earnings

Earnings season is here.

And right off the bat we have Perstima. Here's a screen shot from Dow Jones Newswire.


Scary isn't it? A net profit of only 1.223 million compared to a net profit of 10.061 million the same period a year ago! Previous quarter it did 7.746 million!

Not too impressed with the way the company reviewed its quarterly earnings.

This is what the company has to say...

1. Review of performance
The Group’s profit before taxation for the third quarter compared to the corresponding period in the previous year decreased by 73.2% due to lower profit margin as a result of the increase in production cost which was higher than the increase in selling price despite higher sales quantity.

2. Variation of results against preceding quarter
For the quarter under review, the Group recorded a profit before tax of RM3.0 million compared to RM9.3 million in the previous quarter. The lower profit was due to lower sales volume during the quarter under review and unrealised forex loss as a result of weakening in Vietnamese Dong.