KUALA LUMPUR (Feb 27): BOUSTEAD HOLDINGS BHD []’s net profit fell 8.6% to RM192.30 million in the fourth quarter ended Dec 31, 2011 from RM208.90 million a year ago.
It announced on Monday its revenue jumped 51% to RM2.554 billion from RM1.689 billion. Earnings per share were 18.59 sen compared with 20.20 sen. It proposed dividend of 9.0 sen.
For FY11, its earnings rose 13.6% to RM610.60 million from RM537.50 million in FY10. Its revenue increased 38.4% to RM8.55 billion from RM6.18 billion.
Boustead said for FY11, the PLANTATION [] division delivered RM299 million in profit compared with RM183 million in FY10.
“In addition, the division also benefitted from a gain from the disposal of plantations amounting to RM95 million. The average CPO price realised was RM3,272 per tonne, an increase of 25% over last year’s average of RM2,622 per tonne,” it said.
As for the property division, it registered a 52% increase in profit to RM211 million compared with RM139 million a year ago.
“Fair value gain and increased rental income were the key factors which contributed to the division’s earnings,” it said.
Boustead said its trading and manufacturing division recorded a profit of RM113 million, up 20% from RM94 million in 2010.
“The division performed well this financial year due to strong earnings derived from Boustead Petroleum Marketing Sdn Bhd mainly due to increased volumes from all product lines, stronger operating margins that were achieved through cost optimisation and improved operational efficiencies,” it said.
As for the pharmaceutical division, it registered profit of RM68 million, of which RM40 million was from Idaman Pharma Manufacturing Sdn Bhd for the year under review.
However, the finance and investment division registered a profit of RM45 million during the year under review compared with RM144 million in the previous financial year.
In FY10, the profit included gains from the disposal of BH Insurance Bhd amounting to RM75 million. AFFIN HOLDINGS BHD [] contributed a record profit of RM106 million to the Boustead Group.
As for the heavy industries division, it reported a break-even result compared with last year’s profit of RM146 million due to higher finance charges and the turbulent global economic climate that impacted the division.
Boustead was positive on the outlook as it expected the division to perform well given that the CONSTRUCTION [] of the second generation patrol vessels would be undertaken in the coming financial year.
It announced on Monday its revenue jumped 51% to RM2.554 billion from RM1.689 billion. Earnings per share were 18.59 sen compared with 20.20 sen. It proposed dividend of 9.0 sen.
For FY11, its earnings rose 13.6% to RM610.60 million from RM537.50 million in FY10. Its revenue increased 38.4% to RM8.55 billion from RM6.18 billion.
Boustead said for FY11, the PLANTATION [] division delivered RM299 million in profit compared with RM183 million in FY10.
“In addition, the division also benefitted from a gain from the disposal of plantations amounting to RM95 million. The average CPO price realised was RM3,272 per tonne, an increase of 25% over last year’s average of RM2,622 per tonne,” it said.
As for the property division, it registered a 52% increase in profit to RM211 million compared with RM139 million a year ago.
“Fair value gain and increased rental income were the key factors which contributed to the division’s earnings,” it said.
Boustead said its trading and manufacturing division recorded a profit of RM113 million, up 20% from RM94 million in 2010.
“The division performed well this financial year due to strong earnings derived from Boustead Petroleum Marketing Sdn Bhd mainly due to increased volumes from all product lines, stronger operating margins that were achieved through cost optimisation and improved operational efficiencies,” it said.
As for the pharmaceutical division, it registered profit of RM68 million, of which RM40 million was from Idaman Pharma Manufacturing Sdn Bhd for the year under review.
However, the finance and investment division registered a profit of RM45 million during the year under review compared with RM144 million in the previous financial year.
In FY10, the profit included gains from the disposal of BH Insurance Bhd amounting to RM75 million. AFFIN HOLDINGS BHD [] contributed a record profit of RM106 million to the Boustead Group.
As for the heavy industries division, it reported a break-even result compared with last year’s profit of RM146 million due to higher finance charges and the turbulent global economic climate that impacted the division.
Boustead was positive on the outlook as it expected the division to perform well given that the CONSTRUCTION [] of the second generation patrol vessels would be undertaken in the coming financial year.
