MSport ... Dec10

MULTI SPORTS 3QE SEP 2010 NET PROFIT JUMPS 50.2% YOY

MULTI SPORTS HOLDINGS' Net Profit jumped 50.2% to RM16.4m for 3QE Sep 2010 from RM10.9m same quarter a year ago. The Company's EXCHANGE filing Nov 23, 2010 said that Revenue rose 17% to RM70.2m from RM60.0m. EPS was 4.41 sen compared with 3.48 sen.

QoQ REVENUE DIPPED 1.9%
Compared to 2QE Jun 2010, Revenue As compared to 2Q, Revenue for 3QE Sep 2010 dipped by 1.9%. The Gross Profit Margin improved by 0.1% to 32.5% as compared to 32.4% YoY.

9ME SEP 2010 REVENUE HIGHER
For 9ME Sep 2010, MULTI-SPORTS recorded revenue of RM203.4m and PAT of RM49.2m. The growth in Revenue by 40.7% compared to same period a year ago was due mainly to the increased demand of EVA MD products from its customers.

" .... Gross profit margin for 9ME Sep 2010 decreased to 32.3% from 33.6% for last year same period as this was mainly due to the higher production cost arising from wages increment in Jan 2010. The Group decided to revise the workers' wages upward in view of increasing orders being received by the Group ...." it said.