| MPHB 4Q earnings double to RM260m, boosted by property sales |
| Business & Markets 2012 |
| Written by Joseph Chin of theedgemalaysia.com |
| Friday, 24 February 2012 18:49 |
KUALA LUMPUR (Feb 24): MULTI-PURPOSE HOLDINGS BHD []’s (MPHB) earnings jumped 205% to RM260.14 million in the fourth quarter ended Dec 31, 2011 (4Q2011) from RM85.21 million a year ago, boosted by an exceptional gain derived from the sale of PROPERTIES [] within the group. It said on Friday its revenue increased by 2.1% to RM913.91 million from RM894.45 million. Its earnings per share were 20.40 sen compared with7.90 sen. It declared an interim dividend of 5.0 sen a share. MPHB said its gaming division recorded a profit before tax of RM84.1 million in 4Q2011, down 6.5% from the profit before tax of RM90.0 million in 4Q10. The division reported fair value gain on the valuation of derivative of RM1.8 million in 4Q10 compared to a loss of RM1.1 million in 4Q11. Higher operating expenses in 4Q11 had adversely affected the results. Write back of doubtful debts of RM1.0 million in 4Q10 resulted in higher profit before tax of the stockbroking division at RM5.0 million compared to RM4.0 million recorded in 4Q11. As for the financial services division, it reported a profit before tax of RM12.5 million which was 30.9% lower than RM18.1 million in 4Q10 due to lower fair value gain from the quoted investments. For FY11, its earnings rose 60.6% to RM482.02 million from RM300.04 million mainly due to the gain from disposal of properties, higher dividend income from investments and better performances from all divisions. Its revenue dipped 1.6% to RM3.535 billion from RM3.594 billion. |