Silver Bird Group 4Q net profit up 36.6% at RM835,000

KUALA LUMPUR: SILVER BIRD GROUP BHD’s net profit for the fourth quarter ended Oct 31, 2010 rose 36.66% to RM835,000 from RM611,000 a year ago mainly due to the sales growth in its core business of consumer food division.

Its revenue for the quarter rose 6.75% to RM153.92 million from RM144.19 million in 2009. Earnings per share were 0.22 sen while net assets per share was 53 sen.

Reviewing its performance in 4Q, Silver Bird said on Thursday, Dec 30 that its consumer food division’s revenue rose by 4% year-on-year from RM46.2 million to RM48.2 million due to sales channel expansion.

Meanwhile, its telecommunication business recorded an increase in revenue as well by 8% from RM98.0 million to RM105.7 million, it said.

For the financial year ended Oct 31, Silver Bird’s net profit surged to RM3.65 million from RM1.44 million a year earlier on the back of revenue RM593.51 million.

On its prospects, the company said it would continue to improve the revenue of its core business of consumer food whilst containing its costs in order to further improve its bottomline.