Midas manufacturer aluminium alloy chart with support Resistance

Midas Holdings, the dual-listed, leading manufacturer of aluminium alloy extrusion products for the passenger rail transportation sector in China.
Its clients include both Chinese train manufacturers and international customers like Alstom Transport, Siemens AG and Bombardier Transportation.

5 Apr 2017

Oct 2016
-Revenue rose 2.1% to RM420.8 million for the quarter as Midas’ new division, aluminium alloy stretched plates, made a maiden contribution of RM123 million for the quarter following its acquisition by the group. This was however partially offset by the aluminium alloy extruded products division, which declined 27.3% in revenue to RM297 million and also booked a lower gross profit margin by 1.3 percentage points due to a different product mix in the respective periods.
-Profit reported a 62.5% increase in 3Q16 to RM22.6 million ($4.7 million) from RM13.9 million a year ago. The growth in net profit was mainly attributed to an increased share of profits from its associated company, CRRC Nanjing Puzhen Rail Transport (NPRT), which grew from RM2.5 million in 3Q15 to RM12.4 million in 3Q16.