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MBM Resources Bhd achieved a higher pre-tax profit of RM46.37 million for the first quarter ended March 31, 2011, compared with RM45.2 million recorded the previous corresponding quarter. Revenue rose to RM409.81 million, from RM363.83 million, recorded previously. In a filing to Bursa Malaysia, the group said the spillover of orders last year coupled with strong customers' demand, resulted in higher vehicle sales and revenue. "The second quarter performance will probably be dampened by the issue of parts supply arising from the recent earthquake in Japan," it said. However, the group expects a recovery in volume from the third quarter onwards. "The ongoing development of additional branches for the dealership businesses is expected to contribute positively in the second-half of the year," it said. -- Bernama
Pos Malaysia Bhd registered a higher pre-tax profit of RM48.699 million in the first quarter ended March 31, 2011, compared with RM9.418 million recorded the same period last year. The company's revenue increased to RM304.509 million, from RM231.079 million, registered previously. With the full year impact of the new tariff structure for its regulated mail products and the on-going transformation initiatives, the board is optimistic the group's performance will be favourable during the financial year. -- Bernama
QSR Brands Bhd registered a pre-tax profit of RM63.7 million in the first quarter ended March 31, 2011, compared with RM60.0 million in the same quarter of 2010. Its revenue increased 7.6 per cent to RM779.8 million from RM724.7 million previously. In a filing to Bursa Malaysia today, QSR said the improved performance in the current quarter was primarily due to the better contributions from its KFC operations in Malaysia and its Singapore's Pizza Hut operations. On prospects for the year, QSR said with the increasing inflationary pressures, the company was taking several initiatives to develop and introduce new products and promotions as well as enhance customer experience, expand the restaurant network, while developing better cost efficiencies and improving productivity. The board is confident of maintaining the group's current growth trend for the balance of the year, he added. -- Bernama
KFC Holdings (Malaysia) Bhd recorded an increased pre-tax profit of RM52.65 million in the first quarter ended March 31, 2011, from RM50.118 million in the same period last year. The better profit in the current quarter was primarily attributed to the higher throughput and better cost efficiencies from its KFC restaurant business. Its revenue increased to RM644.219 million, up 7.2 per cent from RM600.676 million previously. In a filing to Bursa Malaysia, the company said its revenue improved primarily from its continuing strategy of network expansion and its effective marketing programme. The growth in the integrated poultry segment was attributed to better sales to the restaurants and retail outlets and the continuing improvement in its open market sales and export sales. The company is confident of maintaining its current growth trend for the balance of the year. -- Bernama
Affin Holdings Bhd recorded a 20.9 per cent lower pre-tax profit of RM140.3 million for the first quarter ended March 31, 2011 against RM177.3 million achieved in the corresponding quarter last year. In a statement, the group said the increase in net interest income and Islamic banking income was not sufficient to cushion the increase in both overhead expenses and allowance for loan impairment, as well as, the reduction in other operating income. Revenue grew almost 20 per cent to RM621.7 million compared with RM520 million recorded, previously. "It has been a commendable start to the new financial year following a strong performance from the group in 2010. "The group is determined to stay focused to improve our profits from various business entities and we are optimistic of the prospects for the year," Chairman Tan Sri Mohd Zahidi Zainuddin said. For the quarter under review, the group achieved a strong loans growth at an annualised rate of 11.1 per cent while deposits expanded by an annualised rate of 20.4 per cent compared with end-December 2010. The group also said its loan-to-deposit ratio was stable at 80.3 per cent, as at March 31, 2011, compared with 82.1 per cent, as at Dec 31, 2010. -- Bernama
Petra Perdana Bhd registered a pre-tax loss of RM8.1 million in the first quarter ended March 31, 2011 as compared to a pre-tax profit of RM4.2 million in the same quarter 2010. Its revenue increased 32 per cent to RM67.0 million from RM50.9 million previously. The significant increase in turnover was mainly due to an improvement in vessels utilisation and an increase in the number of new vessels, it said in a filing to Bursa Malaysia today. It said the pre-tax loss was due to higher lease rental and operations cost following an increase in new deliveries of vessels without charter contract. Petra Perdana managing director Shamsul Saad noted that the first quarter has been the industry's weakest period traditionally, as oil majors tended to curtail their offshore activities in the monsoon season. "Therefore, the jump in the utilisation rate of our vessels in the first three months of this year points to a significant change in the market conditions and, in fact, underlines the continuing turnaround for our offshore vessel business," he said. Petra Perdana's main fleet of medium-size Anchor Handling Tug Supply (AHTS) vessels are capable of operating in medium to deeper waters, while its medium-size work barges and work boats support brownfield hook-up and maintenance operations. Its fleet operates in domestic and regional waters. Petra Perdana is also seeking its shareholders' approval to change its name to Perdana Petroleum Bhd. The name change would be a better reflection of the group's current and future activities in the oil and gas industry. -- Bernama
