Heng Hup (01891) released the unaudited interim results for the six months ended June 30, 2024. The group achieved a revenue of 0.865 billion Malaysian Ringgit, an increase of 50.52% compared to the same period last year. The net profit attributable to shareholders was 11.456 million Malaysian Ringgit, an increase of 367.21% compared to the same period last year. The basic earnings per share was 1.15 Malaysian sen.
According to the announcement, the significant increase in revenue is mainly attributed to the increase in sales of black scrap metal. The sales volume of black scrap metal in the first half of 2024 reached 0.4716 million metric tons, an increase of approximately 52.7% compared to the first half of 2023. However, the average selling price of black scrap metal in the first half of 2024 was 1670.00 Malaysian Ringgit per metric ton, a decrease of approximately 4.0% compared to the first half of 2023.
Heng Hup (01891) released the unaudited interim results for the six months ended June 30, 2024. The group achieved a revenue of 0.865 billion Malaysian Ringgit, an increase of 50.52% compared to the same period last year. The net profit attributable to shareholders was 11.456 million Malaysian Ringgit, an increase of 367.21% compared to the same period last year. The basic earnings per share was 1.15 Malaysian sen.