Image
Leeden's posted 1H10 revenues of S$99.2 million

LEEDEN, which specializes in welding, gas & safety solutions posted 1H10 revenue growth of 5.6% y-o-y to S$99.2 million, thanks to TOP received by its Paterson Linc property development project.

Revenues from its property development grew 44% to reach S$10.8 million.

Revenues from its “industrial” division, comprising of the manufacturing and distribution of industrial welding and safety equipment, welding consumables, industrial gases and related products, increased marginally by 2.2% to S$88.4 million.

Gross profit margins of 29.8%, were the highest in the last five years, thanks to better margins in the industrial division in spite of strong competition.
Image
Leeden's eye-catching booth in an industry exhibition. NextInsight file photo

Profit before tax grew 10.1% to reach S$10.7 million, while profits attributable to shareholders rose 4.3% to reach S$5.3 million.

The company generated S$17.2 million of operating cash in 1H10, compared with S$1.4 million in the previous period, mainly due to better management of working capital.

This allowed the company to reduce bank borrowings and improve gearing ratio to 0.32 times.


Facilities opened during the year include:
1) a new dissolved acetylene plant in Penang, Malaysia,

2) a gas refilling facility in Kuantan, Malaysia; and
3) a fire extinguisher manufacturing plant in Jiangyan, China.

Leeden is also constructing their third welding consumable facility in Malacca, Malaysia.

The company will pay an interim tax-exempt dividend of 1 cent per share on 2 September 2010.

No final dividend was paid for FY09. Based on its last close price of 37 cents, the company has an annual dividend yield of 2.7%.



Related story:  LEEDEN: Turnaround success with award-winning CEO

You may also be interested in:


You have no rights to post comments

Counter NameLastChange
AEM Holdings3.280-
Avi-Tech Electronics0.250-
Best World1.7100.030
Broadway Ind0.091-0.001
China Sunsine0.395-
ComfortDelGro1.300-
Delfi Limited1.130-
Food Empire1.090-
Fortress Minerals0.310-
Geo Energy Res0.280-
GSS Energy0.027-0.001
Hong Leong Finance2.4900.010
Hongkong Land (USD)3.2000.010
InnoTek0.410-0.005
ISDN Holdings0.3350.005
ISOTeam0.040-
IX Biopharma0.0440.001
Jiutian Chemical0.026-
KSH Holdings0.3000.010
Leader Env0.052-0.001
Medtecs Intl0.1410.001
Nordic Group0.400-
Oxley Holdings0.100-
REX International0.164-0.002
Riverstone0.6200.010
Sinostar PEC0.135-
Southern Alliance Mining0.660-0.010
Straco Corp.0.470-
Sunpower Group0.2500.010
The Trendlines0.091-
Totm Technologies0.038-
Uni-Asia Group0.900-0.005
Wilmar Intl3.580-0.040
Yangzijiang Shipbldg1.5100.020
 

We have 588 guests and no members online

rss_2 NextInsight - Latest News