Boustead Q3 pre-tax profit jumps25pc to RM97.5m

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KUALA LUMPUR: Boustead Holdings Bhd’s earnings rose 25.1 per cent to RM97.5 million in the third quarter (Q3) ended September 30 2013 from RM77.90 million a year ago.

The conglomerate, in which the Armed Forces Fund Board (LTAT) has a major stake, said yesterday its pre-tax profit of RM159.2 million represented an improvement of 20 per cent over the RM132.7 million a year ago.

Its revenue rose by 7.4 per cent to RM2.7 billion from RM2.51 billion. Earnings per share were 9.43 sen compared with 7.53 sen previously, while an interim dividend of 7.5 sen a share was declared.

For the nine months ended September 30 2013, its earnings slipped 2.8 per cent to RM258.6 million from RM266.2 million in the previous corresponding period. Its revenue rose 3.4 per cent to RM7.621 billlion in the same period.

Boustead said the plantation division posted a profit of RM29.8 million, an improvement over the deficit in the second quarter (Q2) of RM14.9 million, mainly due to the higher fresh fruit bunches (FFB) crop and dividend income.

The group’s trading and industrial division’s Q3 pre-tax profit of RM38.6 million was higher than the RM34.5 million in the second quarter, mainly due to better contribution from BHPetrol and UAC.

The property division’s profit for Q3 rose to RM47.7 million from RM43.6 million in Q2 on better operating results and sale of a corporate lot.

Meanwhile, the pharmaceutical division’s Q3 profit was higher at RM6.1 million versus Q2’s RM2.5 million, mainly on improved revenue.

The heavy industries division’s Q3 profit was RM12.8 million on better progress of its LCS (littoral combat ships) project and MRO-related (maintenance, repair, and operations) activities.

The air transportation and support services segment under MHS Aviation also produced a better set of results on lower operating cost.

Business Times : nation

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