Midas Holdings FY15 profit inches up

A HIGHER contribution from its Luoyang plant gave a lift to train aluminium body maker Midas Holdings' earnings.

Net profit in the full financial year ended Dec 31, 2015 inched up 1.5 per cent year-on-year to 57.19 million yuan, it said in a Singapore Exchange filing on Monday.

This was on the back of revenue rising 14.7 per cent from the previous year to 1.51 billion yuan.

It did not provide quarterly figures.

Almost all its revenue in FY2015 came from its aluminium alloy extruded products division. The revenue expansion in that unit was mainly due to an increase in business volume and contribution from its Luoyang plant, it said.

Earnings per share stood at 4.70 renminbi fen for FY2015, up from 4.63 renminbi fen the previous year. Net asset value per share was 2.5 yuan as at Dec 31, 2015, compared with 2.46 yuan as at Dec 31, 2014.

It declared a dividend of 0.25 Singapore cent per ordinary share, unchanged from the previous year.

Midas shares rose half a cent to S$0.265 on Monday before its results were out.