Boustead Heavy Industries Corporation (BHIC), one of Malaysia's biggest defence companies, recorded falls in revenue and profit during the third quarter of fiscal year 2015, the company announced on 9 November.
BHIC said in a filing to the Bursa Malaysia stock exchange that revenue in the quarter ending 30 September declined year on year by 21% to MYR64.9 million (USD14.8 million) while pre-tax profit tumbled 52% to MYR5.4 million. Earnings per share also fell sharply to MYR1.59.
BHIC managing director Ahmad Ramli Mohd Nor attributed the falls to the deterioration of the Malaysian currency, the ringgit, which has declined 23% against the value of the US dollar in the past year.
Source: http://www.janes.com/article/55862/falling-malaysia-currency-hits-boustead-profits
