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MSC swings back into profit in 2013

April 07, 2014 - 16:00 GMT Location: London

KEYWORDS: tin , MSC , results , profit , Malaysia , base metals

Tin producer Malaysia Smelting Corp (MSC) has swung back into profit for 2013, thanks to strong performances from the Butterworth international smelting business and Rahman Hydraulic Tin.

The company recorded a profit attributable to its owners of 16.8 million ringgit ($5.12 million) for 2013, compared with a loss of 172.3 million ringgit in 2012. Rahman brought in profit before tax of 34.42 million ringgit in 2013, up from 29.43 million ringgit in 2012, while Butterworth’s pre-tax profit was up 45% year-on-year 65.82 million ringgit. "The group achieved a profit before tax from [overall] continuing operations of 66.35 million ringgit in 2013," ceo Chua Cheong Yong said in his overview of the year. "After deducting income tax expenses and loss...

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