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Midas 1Q earnings nearly treble to $5.8 mil on higher revenue

Michelle Zhu
Michelle Zhu5/12/2017 06:00 PM GMT+08  • 2 min read
Midas 1Q earnings nearly treble to $5.8 mil on higher revenue
SINGAPORE (May 12): Midas Holdings has announced earnings of RMB28.7 million ($5.8 million) for the first quarter ended March 31, nearly three times up from the RMB10 million posted in the same quarter a year ago on a surge in revenue.
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SINGAPORE (May 12): Midas Holdings has announced earnings of RMB28.7 million ($5.8 million) for the first quarter ended March 31, nearly three times up from the RMB10 million posted in the same quarter a year ago on a surge in revenue.

Revenue for the quarter grew 31.3% to RMB398.4 million from RMB303.5 million a year ago, largely due to the inclusion of aluminium alloy stretched plates division’s revenue of approximately RMB76.6 million over the quarter.

For the aluminium alloy extruded products division, revenue grew by 6% to RMB320.8 million, which represented contributions of approximately 80.5% of total revenue as compared to 99.8% for the same quarter a year ago.

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