Business & Markets 2014
Written by Ho Wah Foon of theedgemalaysia.com
Friday, 28 February 2014 19:57
KUALA LUMPUR (Feb 28): Based on corporate results released today, some of the companies that may attract investor attention on Monday (March 3) include the following:
Sime Darby Bhd said it posted a net profit of RM818.3 million for the second quarter ended 31 December 2013 (2QFY2014), up 15.5% compared to the previous year's corresponding quarter, due to reduced taxes.
This quarterly profit was achieved on reduced turnover of RM10.88 billion, versus RM11.25 billion a year ago, according to its filing with Bursa Malaysia.
For the half year ended December (1HFY2014), the group reported a net profit of RM1.3 billion, a decline of 23% year-on-year. Revenue totalled RM21.64 billion, compared with RM22.99 billion posted in the first half of the previous financial year.
The group announced an interim dividend of 6 sen per share for the financial year ending 30 June 2014.
Reviewing performance of various divisions in the second quarter, Sime Darby said its plantation, motors, industrial, energy and utilities divisions posted a lower profit before interest and tax (PBIT). But its property division posted higher PBIT.
PPB Group Bhd’s net profit for the fourth quarter fell 8% year-on-year to RM280.7 million, from RM306.0 million previously.
Revenue rose 15% to RM900.2 million in 4QFY13 from RM782.6 million in 4QFY12.
The group declared a final single-tier dividend of 17 sen per share, payable on June 6, 2014.
Net profit for the full year rose to RM994.2 million from RM842.2 million in the previous year, while revenue rose to RM3.31 billion from RM3.02 billion.
The lower profit for the quarter was attributed to lesser contribution from its associate, Wilmar International Ltd and lower profits from its flour and feed milling, and grains trading segment.
On the other hand, revenue was higher as most of the group’s segments had registered higher revenue, with the exception of its environmental engineering segment.
Mah Sing Group Bhd reported a 28% growth in fourth quarter net profit from a year earlier as revenue rose.
Mah Sing said net profit grew to RM70.7 million in the fourth quarter ended December 31, 2013. Revenue was higher at RM570.2 million compared with RM441.4 million.
Full-year net profit rose to RM280.6 million from RM230.6 million a year earlier. Revenue climbed to RM2.01 billion from RM1.78 billion.
Mah Sing has proposed a first and final single-tier dividend of eight sen a share.
Mah Sing said the group had increased its unbilled sales to a record high of RM4.4 billion, after achieving its targeted RM3 billion sales during the year.
RHB Research Institute said the earnings of Mah Sing Group Bhd were in line with expectations. The research house has upgraded the stock to “buy” from “neutral” as it expects Mah Sing to post higher earnings this year. But it keeps the stock’s fair value at RM2.44.
Oriental Holdings Bhd said its net profit for the fourth quarter to end-December 2013 rose to RM74.2 million, up from RM40.7 million in similar quarter a year ago.
Revenue was at RM757.3 million versus RM743.9 million a year ago.
But for the full year of 2013 to end-December, net profit fell to RM187.5 million from RM200.6 million in 2012 while revenue fell to RM2.76 billion from RM2.81 billion.
Its directors recommended a dividend of 3.5 sen per share.
KNM Group Bhd reported a net profit of RM3.1 million in the fourth quarter ended December 31, 2013, versus a net loss of RM40.7 million a year earlier.
KNM said full-year net profit fell to RM23.8 million from RM72.3 million a year earlier. Revenue was lower at RM1.99 billion versus RM2.39 billion.
Bintulu Port Holdings Bhd said its net profit for the fourth quarter to end-December 2013 rose to RM53.7 million, from RM32.3 million a year ago.
But revenue was near flat at RM137.0 million.
For the full year of 2013 to end-December, profit rose to RM157.9 million from RM146.4 million in 2012 while revenue rose to RM529.8 million from RM506.2 million.
Its directors recommended a final single tier dividend of 7.50 sen per share.
The company said the effective tax rate for the year was lower, primarily due to the recognition of deferred tax benefit of RM14.43 million relating to an unutilised investment tax allowance for a subsidiary.
Brahim’s Holdings Bhd reported net profit of RM12.0 million for its fourth quarter ended Dec 31, 2013, up 150% year-on-year (y-o-y) from RM4.8 million.
Revenue for the quarter had also rose multiple folds to RM109.0 million from RM2.4 million in the previous year’s same quarter.
For the full year, net profit increased to RM22.2 million from RM8.7 million in the previous year, while revenue soared to RM394.7 million from RM9.8 million.
The company declared a dividend of 0.25 sen per share.
Muhibbah Engineering (M) Bhd jumped out of the red, reporting a net profit of RM24.6 million for its fourth quarter, from a net loss of RM145.9 million in the previous year’s same quarter.
However, revenue for 4QFY13 fell by 37% to RM631.6 million from RM1.00 billion in 4QFY12.
Cumulatively, the group made a net profit of RM85.2 million for the year ended Dec 31, 2013, from a net loss of RM93.2 million in 2012.
Full year revenue was lower at RM1.90 billion, compared with RM2.63 billion in the previous year.
A dividend of 4.5 sen was proposed by the group, subject to the approval of shareholders.
MNRB Holdings Bhd saw a rise in its net profit by 20.6% for the nine-month period ended 31 December 2013, mainly due to the improved performance in its reinsurance subsidiary, the company said.
The group’s reinsurance subsidiary reported RM1.08 billion in revenue, an increase of 2.9% from RM1.04 billion recorded in the corresponding period last year.
Its takaful arm saw revenue increase by 4.8% from RM601.4 million to RM630.2 million during the first nine months of the year. But re-takaful business, however, recorded a net loss of RM28.1 million for the period.
Kulim Bhd posted a net profit of RM 3.4 million for the fourth quarter ended Dec 31, 2013 versus a loss of RM39.4 million in similar quarter a year ago.
Revenue for the quarter fell to RM661.7 million from RM714.0 million
Net profit for the full year rose to RM431.0 million, from RM211.2 million the previous year. Revenue for the full year fell to RM2.85 billion, from RM3.03 billion last year.
KPJ Healthcare Bhd's net profit fell 2% to RM32.7 million in the fourth quarter ended December 31, 2013 from RM33.4 million a year earlier.
Revenue, however, rose to RM634.5 million from RM510.6 million. The company said higher finance cost had curbed profit growth.
Full-year net profit fell to RM102.5 million from RM140 million a year earlier. Revenue was higher at RM2.33 billion versus RM2.1 billion.
The firm plans to pay a dividend of two sen a share.