Tiong Nam’s net profit eases to RM2.2m in Q2

KUALA LUMPUR: Tiong Nam Logistics Holdings Bhd’s net profit fell to RM2.2 million in the second quarter ended Sept 30, 2018 compared with RM12.65 million recorded in the same period last year.

Revenue decreased to RM152.05 million from RM173.44 million previously.

For the the nine-months ended Sept 30, 2018, the group’s net profit decreased to RM8.17 million from RM13.73 million recorded in the corresponding quarter of 2017.

Managing Director Ong Yoong Nyock said the lower revenue and net profit were due to reduced contribution from the property development segment.

Source: NST