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Written by Joseph Chin of theedgemalaysia.com
Tuesday, 24 May 2011 22:42
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KUALA LUMPUR: Stocks which could see trading interest on Wednesday, May 24 include POS MALAYSIA BHD [], AIRASIA BHD [], BANDAR RAYA DEVELOPMENTS BHD [] and PPB GROUP BHD [].
Pos Malaysia posted net profit of RM38.26 million in the first quarter ended March 31, 2011, a significant increase from only RM1.62 million a year ago.
The earnings growth was underpinned by the domestic tariff increase which came into effect on July 1, 2010.
The group’s growth of almost 121% in profit from operations at RM50.86 million (2010: RM23.07 million) for the period ended March 31, 2011 was due to the tariff increase and benefits realised from transformation initiatives.
AirAsia’s net profit fell 23.2% to RM171.93 million for the first quarter ended March 31, 2011 from RM224.11 million a year ago as it was affected by rising operational costs.
Its revenue rose 20.3% to RM1.048 billion from RM870.60 million while earnings per share slipped to 6.2 sen from 9.1 sen.
The low-cost carrier said staff costs increased to RM118.53 million from RM90.43 million while aircraft fuel expenses rose to RM376.54 million from RM308.83 million. It also said the maintenance, overhaul, user charges and other related expenses increased to RM146.73 million from RM110.63 million.
Bandar Raya Developments Bhd’s earnings fell to RM4.25 million in the first quarter ended March 31, 2011 from RM22.15 million a year ago due to a decline in revenue.
Revenue declined by 28% to RM137.18 million from RM189.80 million a year ago. Earnings per share were 0.9 sen compared with 4.7 sen.
“With the completion of CapSquare Office Tower 2 and Troika in Kuala Lumpur as well as Phase 1 of Defence Raya Golf Resort in Lahore, Pakistan, revenue in the property division contracted by half to RM71.9 million from RM144.0 million in the same quarter a year ago,” it said.
PPB Group Bhd posted net profit of RM265.23 million in the first quarter compared with the RM1.125 billion a year ago which had included RM838.44 million from the sale of discontinued operations.
Group revenue of RM579.84 million was 15% higher than the RM503.63 million a year ago. The increase was due mainly to higher flour revenue and increased grains trading volume recorded by the grains trading, flour and feed milling divisions
RHB CAPITAL BHD []’s net profit rose 9.2% to RM382.12 million from RM349.73 million a year ago primarily due to higher net interest income.
Pre-tax profit grew by 8% to RM511.6 million from RM474.2 million. Revenue rose to RM1.65 billion from RM1.39 billion while earnings per share were 17.7 sen versus 16.2 sen.
PETRA PERDANA BHD [] posted net loss of RM8.4 million for its first quarter ended March 31, 2011 (1QFY11) due to higher operational costs with its increased new vessels.
It said this was a contrast from a net profit of RM3.6 million from a year ago, when it also booked a one-off gain on vessel disposal of RM8.3 million.
“Turnover jumped 32% to RM67.0 million in 1QFY11 from RM50.93 million a year earlier. The significant increase in turnover was mainly due to improvement in vessel utilisation and increased fleet size,” it said.