KUALA LUMPUR (May 21): Based on corporate announcements and results today, the companies that are likely to be in focus tomorrow are:
Kuala Lumpur Kepong Bhd (KLK) said its net profit soared 50% year-on-year (y-o-y) to RM314.6 million in the second quarter ended March 31, 2014, from RM209.7 million in similar quarter a year ago.
Revenue jumped 31.2% y-o-y to RM2.93 billion from RM2.24 billion.
KLK declared an interim single tier dividend of 15 sen per share for the financial year ending Sept 30, 2014.
The major plantation group said its higher profit was due to improvement in palm oil prices and revenue.
Looking ahead, KLK said the plantation profit for the current financial year is anticipated to be higher than that of the previous financial year, said KLK.
Batu Kawan Bhd, the parent company of KLK, said its net profit soared 49.9% year-on-year (y-o-y) to RM163.2 million in the second quarter ended Mar 31, 2014, from RM108.9 million a year ago.
Revenue jumped 31% y-o-y to RM3.02 billion from RM2.31 billion.
Batu Kawan said it declared an interim single tier dividend of 15 sen per share in respect of the financial year ending Sept 30, 2014.
For the half-year period, net profit rose to RM320.2 million from RM247.8 million a year ago, while revenue stood at RM5.61 billion versus RM4.71 billion in the previous corresponding period.
PPB Group Bhd announced that its net profit plunged 39% to RM144.3 million for the first quarter ended March 31, 2014, from RM236.3 million in the previous year’s same quarter.
However, revenue for the quarter rose 16% year-on-year to RM883.2 million, from RM763.8 million in the year before.
The group’s lower profit was attributed to vastly reduced profit contribution from its associate, Singapore-listed Wilmar International Ltd.
“Wilmar contributed lower profits of RM97 million in 1QFY14 against RM178 million a year ago mainly due to seasonal sugar losses, negative soybean crushing margins as well as tougher operating conditions for palm and laurics,” said the group.
Going forward, the group expects its core businesses, namely its flour and feed, film exhibition, consumer products, property and bakery segments to maintain strong performance in the remaining quarters of FY14.
“Nevertheless, the group's overall consolidated financial results will continue to be contingent on Wilmar's business performance,” said PPB.
Hong Leong Financial Group Bhd (HLFG) said its net profit rose 29.6% year-on-year (y-o-y) to RM414.7 million in the third quarter ended March 31, 2014, from RM320.0 million in similar quarter a year ago.
But revenue fell 2.8% y-o-y to RM1.05 billion from RM1.08 billion.
HLFG declared a higher single-tier second interim dividend of 25 sen per share in FY14.
In a statement to the stock exchange, HLFG’s president and CEO Raymond Choong said: “We are pleased by the earnings growth in our 9M FY14 results given our present operating environment.”
“The earnings growth was achieved across all of our three key businesses of commercial banking, insurance and investment banking.”
For the nine-month period, net profit stood higher at RM1.26 billion versus RM1.09 billion in the previous corresponding period, while revenue posted was RM3.40 billion from RM3.32 billion a year earlier.
Hong Leong Bank Bhd, a key company within HLFG, said it posted a net profit of RM500.0 million for the third quarter to March 31, 2014, up 10% from RM454.2 million in the third quarter of previous financial year.
But revenue fell to RM948.3 million from RM1024.9 million, according to the bank’s filing with Bursa.
For the nine months to March 2014, total profits were also higher at RM1.56 billion versus RM1.44 billion posted in previous year nine months. Revenue was flat at RM3.03 billion versus RM3.03 billion.
Deleum Bhd’s net profit for the first quarter ended March 31,2014, rose 42.6% to RM9.75 million from RM6.84 million in similar quarter a year ago.
Revenue for the quarter rose to RM102.15 million from RM86.50 million a year ago.
The company attributed its increased profits to better performance from the power and machinery and oil field services segments.
On prospects, the company said: “The group is well placed to partake in the ensuing benefits and in the previous financial year it secured multiple contracts for the provision of slick line equipment and services.”
Etitech Corporation Bhd announced that it has received a letter of award for a contract worth RM70 million from Tulangis Maju Sdn Bhd.
The contract is to carry out the project management works in relation to the design construction and completion of 500 units of apartments in Kampung Kilat in Alor Setar, Kedah Darul Aman under the People’s Housing Programme.
“The contract is expected to contribute positively to the earnings of Etitech Group for the financial year ending 31 July 2015 onwards,” the company said.
Hua Yang Bhd's net profit soared 122% to RM37.8 million in the fourth quarter ended March 31, 2014, (4QFY14) from RM17 million a year earlier.
The property developer said revenue rose to RM198.3 million from RM102.4 million.
Full-year net profit climbed to RM82.2 million from RM70.5 million a year earlier. Revenue was higher at RM509.9 million versus RM408.7 million.
Hua Yang plans to pay a dividend of seven sen a share for 4QFY14, bringing full-year dividends to 12 sen.
MSM Malaysia Holdings Bhd's net profit for the first financial quarter ended March 31, 2014, fell 9.1% to RM56.33 million from RM61.96 million in similar quarter a year ago.
Revenue for the quarter fell to RM498.26 million, from RM514.96 million a year ago.
The sugar producer attributed the lowered profits to lower overall domestic sales.
The group is of the opinion that it would be able to sustain satisfactory performance.
Matrix Concepts Holdings Bhd's net profit fell 16% to RM38.6 million in the first quarter ended March 31, 2014 from RM46 million a year earlier.
Matrix Concepts said revenue was lower at RM134.7 million versus RM155.6 million.
The firm said it planned to pay a first interim single-tier dividend of five sen a share for the quarter.
TH Plantations Bhd’s net profit rose 75% year-on-year (y-o-y) to RM5.6 million in the first quarter ended March 31, 2014 from RM3.2 million.
Revenue climbed 38.9% to RM124.2 million from RM89.5 million.
Written by Ho Wah Foon of theedgemalaysia.com
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