KUALA LUMPUR: Boustead Heavy Industries Corp Bhd’s (BHIC) net profit rose 63 per cent to RM34.4 million in the nine months ended September 30, 2017 from RM34.4 million from RM21.1 million a year ago. BHIC posted revenue of RM184.87 million in the nine months compared to RM197.04 million previously. BHIC’s joint venture companies recorded a positive contribution of RM3.6 million in the current quarter, largely due to favourable foreign exchange translations arising from trade payables. Executive deputy chairman and managing director Tan Sri Ahmad Ramli Mohd Nor said BHIC’s performance in the third quarter of 2017 underscores its resilience when faced with challenging market conditions. “Despite the slow pace of global economic recovery, as well as an uncertain geopolitical outlook, BHIC has posted profitable results for three consecutive quarters this financial year,” he said in a statement.

Source: New Strait Times November 15, 2017 12:56 UTC