KUALA LUMPUR (Feb 16): Cycle & Carriage Bintang Bhd (CCB) earnings increased by 39.8% to RM6.33 million in the fourth quarter ended Dec 31, 2011 from RM4.52 million a year ago, underpinned by higher sales of vehicles but it expected 2012 to be a difficult year.
Its chairman Ben Keswick said on Thursday that vehicle sales rose 19% while earnings from Mercedes-Benz trading operations were stable
“While 2012 is expected to be a difficult year given the poor global economic climate and competition in the local market, the Group’s strong underlying business and sound balance sheet leaves it well-placed to face the challenges ahead,” he said.
CCB’s revenue for 4Q2011 rose 26.6% to RM158.96 million from RM125.54 million. Earnings per share were 6.28 sen compared with 4.49 sen. It proposed a final dividend of five sen per share.
For the financial year ended Dec 31, 2011, CCB’s earnings were marginally lower at RM26.62 million compared with RM26.77 million in FY10 as higher sales were offset by lower gross margins and reduced non-recurring income.
CCB said its revenue rose 15% to RM677.96 million from RM589.24 million.
Its chairman Ben Keswick said on Thursday that vehicle sales rose 19% while earnings from Mercedes-Benz trading operations were stable
“While 2012 is expected to be a difficult year given the poor global economic climate and competition in the local market, the Group’s strong underlying business and sound balance sheet leaves it well-placed to face the challenges ahead,” he said.
CCB’s revenue for 4Q2011 rose 26.6% to RM158.96 million from RM125.54 million. Earnings per share were 6.28 sen compared with 4.49 sen. It proposed a final dividend of five sen per share.
For the financial year ended Dec 31, 2011, CCB’s earnings were marginally lower at RM26.62 million compared with RM26.77 million in FY10 as higher sales were offset by lower gross margins and reduced non-recurring income.
CCB said its revenue rose 15% to RM677.96 million from RM589.24 million.
