PERSONALLY I LIKE HAPSENG AND CEPAT.
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Monday, 18 November 2013 20:16
KUALA LUMPUR (Nov 18): Based on corporate results released today, the stocks that may stir tomorrow could include MAS, CIMB, IOI, Carlsberg, Press Metal, Pharma, P.Media, TH Plant, M-Sports, Scomi Energy and i-Bhd.
Malaysian Airliness System Bhd (MAS) reported an unexpectedly huge loss of RM375.4 million for the third quarter ended Sept 30, 2013, versus a net profit of RM37.1 million in the same quarter last year.
However, revenue for the quarter under review rose to RM3.91 billion, up from RM3.47 billion in the corresponding period last year.
The national carrier attributed the third quarter loss to increased competition which impacted yields, higher expenses caused by the weakening of the ringgit against the US Dollar, increased charges at overseas airports and an intensive advertising programme to build the Malaysia Airlines brand and increased finance costs.
MAS said the revenue increase was due to increased seat factor by 10.3 ppt to 84.8%.
For the nine months to September 2013 (9M13), the airline’s net loss widened to RM830.2 million from RM483.9 million in the same period last year. This was on the back of higher revenue of RM11.2 billion, up from RM9.9 billion previously.
CIMB Group Holdings Bhd’s net profit fell 7% year-on-year (y-o-y) to RM1.062 billion in the third quarter ended Sept 30, 2013, from RM1.143 billion a year ago.
Revenue also fell 2% y-o-y to RM3.485 billion from RM3.544 billion.
The banking and financial group said it recorded a net profit of RM3.502 billion for nine months to Sept 30, versus RM3.263 billion a year earlier, while revenue rose RM10.874 billion from RM10.125 billion a year ago.
Reviewing its results, CIMB said the group’s 3Q13 revenue of RM3.485 billion were 1.2% higher than 2Q13, translating to a 0.8% Q-o-Q net profit growth to RM1.062 billion.
On its nine-month performance, CIMB said its 9M FY13 profit would be lower after excluding the one-off gain and RM200 million in restructuring charges.
IOI Corporation Bhd’s profit for the first quarter to September had fallen by 50% to RM302 million from RM604 million in the previous year’s corresponding quarter.
The first quarter revenue was at RM3.24 billion, compared to RM3.13 billion in the previous year’s corresponding quarter.
The plantation group said translation loss of RM164.1 million on foreign currency denominated borrowings, coupled with much lower profit from the plantation segment in the quarter had contributed to profit fall.
In the first quarter of the previous financial year, translation gain stood at RM259 million.
IOI said its plantation profit decreased by 36% to RM256.1 million for Q1 FY2014, as compared to RM401.2 million reported for Q1 FY2013.
IOI said it expects its performance to be satisfactory in the remaining quarters of the current financial year.
Carlsberg Brewery (M) Bhd’s profit slumped by 37.1% for the third quarter ended Sept 30 (3Q13) due to “phasing issue” related to the 2014 Budget announcement on Oct 25.
The group reported a net profit of RM38.4 million for the 3Q13, or 37.1% lower compared to RM61.1 million in the same period last year. Revenue fell by 14.3% to RM352.1 million from RM410.8 million previously.
Carlsberg Malaysia’s Managing Director, Henrik Juel Andersen said: “The Q3 result for Malaysian market was affected by the timing of the Budget 2014 announcement.
“In 2012, the National Budget was in September, resulting in trade stocking-up a month earlier than this year,” he said in a press release.
Consequently, the later phasing of the National Budget 2014 announcement will help to deliver a stronger financial performance for the last quarter of the year.
For the nine months period (9M13), the group’s profit fell to RM119.9 million, from RM151.2 million.
Revenue fell to RM1.16 billion in the 9M13 from RM1.24 billion in the same period last year.
Press Metal Bhd recorded a loss of RM1.64 million for the third quarter ended Sept 30 (3Q13), against a profit of RM136.1 million in the same quarter last year.
However, the group’s loss was on the back of higher revenue of RM794.5 million, compared to RM609.1 million previously.
For the nine months period (9M13), the group’s profit plunged by 75.5% to RM43.6 million from RM178 million in the same period last year. Revenue climbed to RM2.31 billion for 9M13, from RM1.66 billion.
Pharmaniaga Bhd’s profit plunged 85% to RM3.8 million for the third quarter ended Sept 30 (3Q13) from RM25.2 million in the same period last year.
However, revenue rose to RM440.8 million for the 3Q13, up from RM426.5 million in the same corresponding period last year.
For the nine months period (9M13), the group reported net profit of RM34.4 million, a fall by 50.6% to RM69.6 million previously.
Revenue marginally rose to RM1.37 billion from RM1.32 billion in the same period last year.
The company declared in interim dividend of 3.0 sen per share.
Media Prima Bhd’s net profit rose 8% year-on-year (y-o-y) to RM64 million in the third quarter ended Sept 30, 2013, from RM59 million a year ago.
Revenue climbed 0.5% y-o-y to RM439 million from RM437 million.
The integrated media group declared a second single-tier interim dividend of 3 sen per ordinary share.
Meanwhile, Media Prima registered cumulative nine-month profit of RM151 million from RM136 million a year ago, while revenue raked in RM1.271 billion versus RM1.220 billion a year ago.
TH Plantations Bhd said its net profit dropped by 20% to RM15.4 million in the third quarter (3QFY13) from RM19.2 million in 3QFY12.
This was attributed to the prolonged weakness in the CPO prices, which were 22% lower than the previous corresponding period.
But revenue for 3Q13 increased by 58% to RM130.1 million from RM82.3 million in the previous year’s corresponding quarter.
For the nine months to September 2013, TH Plantations had improved revenue by 14% to RM315 million from RM277 million in the previous corresponding period.
Takaso Resources Bhd, which suspended the trading of its shares today to verify a report that said Carlyle Group was buying over the company, stated there was no truth in the report.
The request for suspension was to enable the company to investigate and verify an article last week entitled “Carlyle Group to acquire Takaso?”.
“Upon checking and investigating the said article with our substantial shareholder and directors, we are not aware of any talks or contact with anyone from the Carlyle Group,” it said.
Multi Sports Holdings Bhd slipped into the red for the third quarter to end-September 2013, with a net loss of RM1.9 million, compared to a net profit of RM15.5 million in the third quarter of 2012.
Revenue for the third quarter of this year also fell to RM94.2 million from RM98.2 million a year ago.
“The loss was primarily due to an increase in preliminary start-up expenses incurred by newly incorporated subsidiary on renovation and transfer of store ownership,” said the company in its filing with Bursa Malaysia.
For the nine months to September 2013, the China company recorded a total revenue of RM269.9 million and net profit of RM19.7 million.
On outlook, the sports shoes maker said it expects challenging market conditions to persist in the near term.
Scomi Energy Services Bhd’s net profit recorded RM25 million in the second quarter ended Sept 30, 2013, while revenue registered RM330 million.
The oil and gas service provider did not provide year-on-year comparison as it changed its financial year-end to Mar 31 from Dec 31.
Scomi Energy said profit contributed mainly from its oilfield services division, which posted a net profit of RM22.3 million and recorded sales of RM290.8 million. Its marine services division constituted the balance.
Cumulatively, net profit posted RM49 million while revenue raked in RM651 million.
i-Berhad’s net profit fell by 32% to RM2.7 million in its third quarter to Sept 30 (3Q), from RM4.0 million in the previous year corresponding quarter.
The company said the lower profit was “mainly due to write-off of exhausted assets as well as seasonal effects for the leisure division.
But i-Bhd registered RM36 million, up 118% from RM16 million in the previous corresponding quarter.
The cumulative profit for the nine months up to September 2013 saw a rise of 86% to RM14.4 million, from RM7.7 million in the previous corresponding period.
Cumulative revenue also rose by 169% during 9MFY13 to RM96.5 million from RM35.9 million in 9MFY12.