YHI International profits jump 18%

The group is seeing strong growth in Malaysia.

Business has been booming for YHI International in the past quarter as different segments of the company continue to register good financials.

The Group has reported turnover of S$252.5 million in the first half of 2014, as compared to S$250.4 million in the same period last year (1H13). Net profit after tax and non-controlling interests attributable to shareholders (PATMI) increased by 17.8% to S$4.2 million in 1H2014. Earnings per share (EPS) was 0.71 Singapore cent for 1H2014 as compared to 0.60 cent for 1H2013.

Executive Chairman and Group Managing Director, Mr Richard Tay, said: “We are pleased to note that we have successfully completed the operational consolidation for manufacturing facility in Malaysia. We expect to raise productivity and production efficiency progressively at the Malacca plant in the second half of this year (2H2014). With our key priorities focused on cost management and greater operational efficiency for the year ahead, our strategic growth plans for both business segments are now on track and is expected to reap positive results in due course.”

“Moving forward, we will remain vigilant and continue to improve our business and financial fundamentals, keeping in line with our strategy of strengthening our core competencies. YHI strives to focus on brand building, product innovation and design, as well as improvements in our production systems to enhance quality and productivity.”