Advanced Hldgs Q4 net surges to $2.61m

ADVANCED Holdings' net profit for the fourth quarter ended Dec 31, 2013, more than doubled to $2.61 million from $1.18 million for the previous corresponding quarter.

Revenue climbed 18.4 per cent to $46.3 million, boosted by higher sales in the petrochemicals and chemicals industry. Earnings per share for the quarter worked out to 0.86 cent, up from 0.39 cent.

During the quarter under review, gross profit margin rose by over two percentage points to 25.8 per cent, resulting in gross profit surging 29.6 per cent to $11.9 million.