Hong Leong Industries Bhd’s (HLI) net profit rose 76% in the first quarter ended September 30, 2013 (1QFY14) from a year earlier, on higher revenue and lower production cost for consumer products.
HLI said 1QFY14 net profit rose to RM36.1 million from RM20.6 million. Revenue climbed to RM567.8 million from RM556.2 million previously.
The increase in profit was due to "favourable sales mix and lower production costs for consumer products."
HLI told Bursa Malaysia that the group has declared a tax-exempt interim dividend of 10 sen per share.
The company expects performance at its consumer and industrial product segments to be satisfactory in FY14.
Kossan Rubber Industries Bhd’s net profit rose 21% to RM35.4 million for its third quarter to September 2013, from RM29.2 million in the previous corresponding quarter. The group announced a dividend of 3.5 sen per share, payable on Dec 20.
But its 3QFY13 revenue rose to RM334 million from RM323 million in 3QFY12.
Net profit for the nine months to Sept 2013 increased to RM102 million from RM75 million in the preceding corresponding period. Revenue increased to RM982 million in 9MFY13 from RM917 million.
“For the remaining quarter of 2013, the management expects the good performance to be maintained,” said Kossan Rubber on its future prospects.
Pos Malaysia Bhd posted a 30% increase in second quarter net profit from a year earlier, on higher income from its mail and courier operations.
Pos said net profit increased to RM39.55 million in the quarter ended September 30, 2013 (2QFY14) from RM30.43 million. Revenue climbed to RM316.98 million from RM300.45 million.
Pos Malaysia's net profit for six months to September rose to RM82.7 million from RM67.21 million a year earlier. Revenue was higher at RM672.79 million versus RM611.76 million.
The company plans to pay an interim dividend of eight sen a share less 25% income tax.
Pos Malaysia said outlook for FY14 remains positive.
Boustead Heavy Industries Corp Bhd (BHIC) has clinched a RM108 million oil and gas support-services job from Murphy Sarawak Oil Co Ltd.
BHIC said it has secured the project via wholly-owned subsidiary Boustead Penang Shipyard Sdn Bhd (BPS). The engineering, procurement, construction and commissioning job involves phase two of Murphy's Sarawak gas development project.
The completion date of the contract is in June 2015. The contract will contribute positively to its future earnings, it said.
Gamuda Bhd announced it has received a letter of offer dated Nov 21 from Selangor state investment arm KDEB for SPLASH Holdings’ water assets, with an indicative price of RM1.8 billion.
In a filing with Bursa Malaysia, the major infrastructure and construction group said the offer came with terms and conditions in respect of KDEB’s proposed purchase of 100% equity in SPLASH Holdings, the holding company of Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH), at RM1,834.6 million.
Gamuda noted it has a 40% equity interest in SPLASH Holdings.
The offer formed part of the Selangor government’s final offer of RM9.65 billion to purchase the four water concessionaires in Selangor yesterday.
Kretam Holdings Bhd’s net profit plummeted 39% year-on-year (y-o-y) to RM7.5 million in the third quarter ended Sept 30 from RM12.3 million a year ago.
But revenue rose 7% y-o-y to RM98 million from RM92 million.
The palm oil player said for the nine-month period, profit earned was RM14 million, down from RM48 million a year earlier; while revenue was RM271 million versus RM224 million in the previous corresponding quarter.
Kretam said for its plantations and mills segment, the lower revenue and profit was mainly due to significantly lower CPO and palm kernel prices.
“The board takes the view that this year will be challenging unless there is a subsequent surge in palm oil prices,” said Kretam.
Syarikat Takaful Malaysia Bhd’s profit for the third quarter ended Sept 30 (3QFY13) soared 106.7% year-on-year to RM31.58 million.
However, its revenue declined to RM377.02 million from RM416.23 million.
For the nine months period to September (9MFY13), the group reported a higher net profit of RM97.51 million, versus RM68.82 million a year ago. Revenue increased to RM1.33 billion from RM1.29 billion.
Looking forward, the Islamic insurance company expects to increase its market share with the introduction of new products and services this year.
Tek Seng Holdings Bhd saw a huge jump in net profit to RM2.8 million for its third quarter to September 2013, from RM1.5 million in the previous corresponding quarter.
Revenue for the quarter rose to RM56 million in 3QFY13, from RM50 million in 3QFY12.
However, net profit for the nine months to September 2013 declined to RM3.8 million from RM6.6 million in the previous corresponding period. Revenue increased to RM153 million from RM146 million in 9MFY12.
“The major contributor of the group’s revenue was PVC sheeting, which contributed approximately 67.45% towards the current quarter,” said Tek Seng.
Looking forward, the group is optimistic that it will have a stable performance for the remainder of 2013 as the solar segment has started to contribute to revenue.
Selangor Dredging Bhd (SDB) reported lower profit for the second quarter ended Sept 30 (2QFY13) on higher tax charge for the period under preview.
The property developer registered net profit of RM9.5 million for 2QFY13 against RM10.2 million a year ago.
But turnover was higher at RM85.3 million for the second quarter, compared to RM61.7 million.
For the first half of the financial year to September, the group saw a decrease in profit to RM18.8 million from RM20.8 million a year ago. Its revenue for the period climbed to RM156.1 million from RM127.0 million.
Looking forward, the group anticipates soft demand for properties due to the recent announcements to curb speculative activities in Budget 2014.
But with unbilled sales of RM932 million in hand, and the upcoming new launches in Sungai Buloh, the group expects performance for the rest of the current financial year to remain satisfactory.
Bonia Bhd’s first quarter ended September 30 saw a fall of 8% year on year in net profit to RM14.2 million.
But revenue for 1QFY13 increased by 7% to RM168 million from RM157 million in 1QFY12.
Bonia said the decrease in profit for the third quarter was due to increased operating expenses for the period.
The group’s prospects for the remainder of 2013 are positive due to improved economic outlook.
Dufu Technology Corporation Bhd’s loss widened for the third quarter ended Sept 30 (3QFY13) on depreciation of assets and minimal wage imposed by the Malaysian government.
The HDD manufacturer’s loss for the 3QFY13 deepened to RM2.1 million from RM1.6 million a year ago. Its revenue fell to RM25.0 million from RM28.9 million in the same period last year.
QL Resources Bhd’s net profit rose 15% year-on-year (y-o-y) to RM42 million in the second quarter ended Sept 30, 2013. Revenue also rose 10% to RM605 million.
The mainly marine-products manufacturer said the larger profit was due to profit increases in most of its segments, and the better revenue was due to overall higher contribution from all its segments.
For the half-year period to September, profit chalked up to RM77 million from RM68 million a year earlier, while revenue registered RM1.185 billion versus RM1.047 billion in the previous corresponding quarter.
The company expects the integrated livestock activities contribution to continue to improve and fishery operations to be satisfactory.
Written by Ho Wah Foon of theedgemalaysia.com
No comments:
Post a Comment