Written by Surin Murugiah
Monday, 31 May 2010 13:14
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KUALA LUMPUR: BOUSTEAD HOLDINGS BHD []'s net profit rose 48.3% to RM90.2 million for the first quarter ended March 31, 2010 from RM60.8 million a year ago, on the back of a 28% increase in revenue to RM1.55 billion.
Earnings per share was 9.75 sen, while net assets per share was RM4.27.
The company had on Monday, May 31 declared a first interim dividend comprising single tier five sen in respect of the financial year ending Dec 31, 2010.
Boustead said the notable increase in revenue from both its PLANTATION [] and trading divisions was due to stronger palm product prices and higher sales volume respectively.
On its current year prospects, Boustead said that despite visible signs of recovery in both the domestic and global economies, the remaining months of FY2010 will continue to be challenging due to the renewed concerns over contagion effects from the Greek fiscal crisis and China's measures to curb domestic property prices that may squeeze raw material demands.