KUALA LUMPUR: AFFIN HOLDINGS BHD []'s earnings rose 50% to RM126.57 million in the fourth quarter ended Dec 31, 2010 from RM84.17 million a year ago.
The financial services group said on Thursday, Feb 24 revenue rose 21.5% to RM620.54 million from RM510.41 million. Earnings per share were 8.47 sen compared with 5.63 sen
For FY10, its earnings rose 32.4%to RM488.62 million from RM371.84 million. Revenue was RM2.272 billion versus RM2 billion a year ago.
Affin said it recorded an impressive record profit before tax of RM637.5 million for FY10 as compared with RM497.2 million in FY09, up RM140.3 million or 28.2%. Revenue rose 13.1% to RM2.3 billion from RM2.0 billion in FY09.
'The Group's positive growth is attributed to the increase in net income, other operating income and Islamic banking income totaling RM66.2 million or 5.1%.
Other contributing factors involved lower allowances for impairment of loans of 48.8% and securities of 47.5%. Additionally, there was a gain of RM8.5 million on dilution of interests in associate arising from the acquisition of the entire share capital of BH Insurance (M) Bhd by AXA AFFIN General Insurance Bhd,' it said.
The financial services group said on Thursday, Feb 24 revenue rose 21.5% to RM620.54 million from RM510.41 million. Earnings per share were 8.47 sen compared with 5.63 sen
For FY10, its earnings rose 32.4%to RM488.62 million from RM371.84 million. Revenue was RM2.272 billion versus RM2 billion a year ago.
Affin said it recorded an impressive record profit before tax of RM637.5 million for FY10 as compared with RM497.2 million in FY09, up RM140.3 million or 28.2%. Revenue rose 13.1% to RM2.3 billion from RM2.0 billion in FY09.
'The Group's positive growth is attributed to the increase in net income, other operating income and Islamic banking income totaling RM66.2 million or 5.1%.
Other contributing factors involved lower allowances for impairment of loans of 48.8% and securities of 47.5%. Additionally, there was a gain of RM8.5 million on dilution of interests in associate arising from the acquisition of the entire share capital of BH Insurance (M) Bhd by AXA AFFIN General Insurance Bhd,' it said.
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