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MeGroup posts 10.3% dip in FY20 earnings to RM1.2 mil

Samantha Chiew
Samantha Chiew7/17/2020 06:30 PM GMT+08  • 4 min read
MeGroup posts 10.3% dip in FY20 earnings to RM1.2 mil
MeGroup posts 10.3% drop in FY20 earnings despite higher revenue
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SINGAPORE (July 17): Malaysian-based automotive distributor and parts manufacturer MeGroup today announced that earnings for FY20 dipped 10.3% to RM1.2 million ($0.4 million) from RM1.4 in FY19, due to higher expenses incurred for new dealerships.

This brings EPS for FY20 to 1.05 sen from 1.28 sen in FY19.

Revenue for the final year ended March came in at RM245.8 million, 1.0% higher than RM243.5 million in the previous year, led by higher contribution from the company’s manufacturing business but partially offset by lower contribution from its dealership business.

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