Goodway reports poor quarter

ERJ staff report (DS)

Kuala Lumpur -- Goodway Integrated Industries Berhad has reported lower sales for the three months ended 30 Sept 2010. Operating profits also fell in the period. However results for the first nine months of 2010 were strong.

For the three months, Goodway said sales fell to RM 51.1 million (euro 12.2 million) from RM 53.6 million. For the nine months, however, sales jumped to RM 169 million from RM 138 million.

Operating profits for the three months fell to RM 2.33 million from RM 3.46 million. For the nine months, operating profits grew slightly, to RM 8.79 million from RM 8.27 million.

“At Goodway, we are committed to developing and delivering innovative and high quality rubber compounds and downstream products. We are proud to have established a strong reputation as a leading rubber compounder and grown to be the largest retread rubber manufacturer in the region,” said Mr. Tai Boon Wee, CEO of Goodway Integrated Industries Berhad

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Results statement from Goodway