San Teh reports higher Q2 profit on sharp jump in revenue

San Teh has reported a 67.4 per cent rise in second quarter net profit to $976,000 on the back of a near doubling of revenue to $13.7 million from $7.1 million in the corresponding period last year.

The increase in sales was mainly due to higher revenue recorded in hotel and property operation.

Improvement to bottom-line was the result of better performance from the PVC pipes and fittings operation.

Earnings per share firmed to 0.28 cent from 0.17 cent previously while net asset value per share was unchanged at 63 cents.

The group expects the operating environment for the hotel operation to remain challenging in the third quarter.

The PVC pipes and fittings operation is expected to face rising cost pressure.