Tasco 2Q net profit surges as revenue rises to historic high

KUALA LUMPUR (Oct 23): Tasco Bhd's second quarter net profit jumped 160.34% to RM10.7 million from RM4.11 million a year earlier as the logistics company experienced a surge in business volume when its customers restarted operations following the transition from Malaysia’s movement control order (MCO) to the less-restrictive conditional MCO (CMCO) and recovery MCO (RMCO) to curb the spread of the Covid-19 pandemic.

As a result, Tasco said its second quarter ended Sept 30, 2020 (3QFY21) saw the achievement of historic high revenue.

"Coupled with our strong actions to control and reduce costs, this quarter has seen our group reporting significantly better results at both top and bottom lines vis-a-vis last year's corresponding quarter as well as the immediate preceding quarter,” Tasco said in a Bursa Malaysia filing today.

More to come