Mainboard-listed Kian Ann Engineering, one of the largest independent distributors of heavy machinery parts in Asia, announced it achieved a record profit attributable to equity holders of $13.2 million for the financial year ended 30 June 2010.
Kian Ann says the group’s performance was lifted by the gradual recovery of global economic conditions, which resulted in sales growth of 10.8% to $149.4 million in FY2010 from $134.8 million in FY2009. Improved demand from mining, forestry, palm oil and infrastructure sectors in Malaysia and countries outside Asia, especially Russia, South America and continents of Oceania, contributed to the better performance.