MSC reports strong Q1 on higher tin prices, sales volumes

Tin producer Malaysia Smelting Corp (MSC) made a profit before tax of 32.8 million ringgit ($8.2 million) in the first quarter of 2016, against a loss in the same period of last year, thanks to higher volumes of refined tin sales.

The company swung back to profit year-on-year, after a loss before tax of 1.93 million ringgit in the first quarter of 2015. It also cited a “favourable valuation adjustment” on its inventory, as a result of higher tin prices at the end of the first three months of 2016. Revenue also increased, rising to 408.4 million ringgit in the three months ended March 31 this year, from 381.6 million ringgit in the same period of last year. Profit net of tax for the...

Published

Claire Hack

May 10, 2016

14:36 GMT

London