KUALA LUMPUR (Feb 16): TASEK CORPORATION BHD []'s earnings fell 57.1% to RM33.44 million in the fourth quarter ended Dec 31, 2011 from RM78.00 million a year ago, as a result of higher production costs.
However, despite the lower earnings, it declared dividends totaling 86%. They comprised of a special ordinary dividend of 50% less income tax of 25%; preference dividend of 6% single tier and final ordinary dividend of 30% single tier.
It said on Thursday, revenue rose 25.11% to RM167.24 million from RM133.67 million. Earnings per share were 26.98 sen compared to 48.88 sen.
Tasek Corp said the higher revenue was due to higher volume in local cement and ready-mix concrete sales which increased 22% and 21% respectively.
Higher average selling price in both segments also contributed to the higher revenue. However, the better margin from a higher average selling price was offset by higher production costs as a result of increasing coal and electricity costs.
For the 12 months ended Dec 31, 2011, net profit declined 33.10% to RM103.16 million from RM154.19 million a year ago. Revenue rose 3.5% to RM566.19 million from RM546.76 million.
However, despite the lower earnings, it declared dividends totaling 86%. They comprised of a special ordinary dividend of 50% less income tax of 25%; preference dividend of 6% single tier and final ordinary dividend of 30% single tier.
It said on Thursday, revenue rose 25.11% to RM167.24 million from RM133.67 million. Earnings per share were 26.98 sen compared to 48.88 sen.
Tasek Corp said the higher revenue was due to higher volume in local cement and ready-mix concrete sales which increased 22% and 21% respectively.
Higher average selling price in both segments also contributed to the higher revenue. However, the better margin from a higher average selling price was offset by higher production costs as a result of increasing coal and electricity costs.
For the 12 months ended Dec 31, 2011, net profit declined 33.10% to RM103.16 million from RM154.19 million a year ago. Revenue rose 3.5% to RM566.19 million from RM546.76 million.
