KUALA LUMPUR: ORIENTAL HOLDINGS BHD [] posted a 75% decline in its earnings at RM22.57 million for the second quarter ended June 30 compared with RM91. 23 million a year ago as it was impacted by a weaker PLANTATION []s sector.
Oriental Holdings, which has interests in plantations, automotive retailing and'' hotel and resort sector, said on Monday, Aug 30 that revenue fell 13.2% to RM780.67 million from RM899.63 million.
Its pre-tax profit was RM47.77 million, a decline of 70.7% compared with RM159.63 million a year ago. Earnings per share were 3.64 sen compared with 14.71 sen. Its net asset per share was RM7.43.
On the outlook, it said the performances of the plantation subsidiaries may be impacted by the volatility of both crude palm oil (CPO) price and foreign exchange but the poor weather condition may affect the level of crop production.
'The performances of the automotive related subsidiaries are expected to be lower in tandem with the industry trend,' it said.
Oriental Holdings, which has interests in plantations, automotive retailing and'' hotel and resort sector, said on Monday, Aug 30 that revenue fell 13.2% to RM780.67 million from RM899.63 million.
Its pre-tax profit was RM47.77 million, a decline of 70.7% compared with RM159.63 million a year ago. Earnings per share were 3.64 sen compared with 14.71 sen. Its net asset per share was RM7.43.
On the outlook, it said the performances of the plantation subsidiaries may be impacted by the volatility of both crude palm oil (CPO) price and foreign exchange but the poor weather condition may affect the level of crop production.
'The performances of the automotive related subsidiaries are expected to be lower in tandem with the industry trend,' it said.
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