A-Rank 1Q2012 Result Review, PBT down 15% YoY

A-Rank Bhd is principally engaged in investment holding and manufacturing and marketing of aluminium billets respectively. It reported its 1Q2012 results yesterday. Here's the summary of the result:
1. Revenue up 5% to RM100.3m.
    This is due to higher business volume as well as a slight increase in average selling prices due to the
    rise in underlying raw material costs.
2. But profit before tax down 15% to RM1.8m.
    Mainly caused by lower margins as a result of the volatility in aluminium prices as well as the stronger
    Malaysian Ringgit which impacted export margins.
3. Trading below Book Value at 0.54x Price To Book. Latest Book Value RM0.78. With share price
    close at RM0.42 yesterday.