Friday, August 27, 2010

Unico-Desa 1Q net profit up 68.5% y-o-y

KUALA LUMPUR: Unico-Desa PLANTATION []s Bhd's net profit for the first quarter ended June 30, 2010 (1Q11) rose 68.5% to RM7.93 million from RM4.70 million a year ago underpinned by improved contribution from its plantation and hire purchase divisions.

Its revenue dipped 12.2% to RM49.77 million from RM56.71 million previously while posting basic earnings per share of 0.92 sen versus 0.54 sen.

Unico-Desa registered a profit before tax (PBT) of RM10.45 million for 1Q11 as against RM6.03 million in the same quarter last year.

In a filing to Bursa Malaysia Securities on Friday, Aug 27,the group said PBT for its plantation division increased year-on-year (y-o-y) by 168% to RM5.1 million from RM1.9 million due to higher internal fresh fruit bunches (FFB) production and lower production cost.

It also said PBT for its hire purchase division improved 29% y-o-y to RM5.3 million from RM4.1 million mainly due to increase in hire purchase revenue.

No interim dividend was declared for the current financial quarter ended June 30, 2010. Unico-Desa's net asset per share stood at 88.19 sen as at June 30.

On its prospect, Unico-Desa said ongoing replanting programme would inevitably impact the group's future profit. It said based on the current crude palm oil and palm kernel prices as well as the positive contribution from hire purchase segment, the group's performance for the current financial year was expected to be reasonable.

Its share price at midday Friday added half a sen to 97 sen with turnover of 620,700 shares.

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