KUALA LUMPUR: ALLIANCE FINANCIAL GROUP BHD [] said its net profit 11.22% to RM111.12 million in the third quarter ended Dec 31, 2010 from RM99.91 million a year ago, driven by higher net interest income and lower overheads.
It said on Monday, Feb 21 revenue rose to RM284.98 million from RM278.27 million. Earnings per share were 7.30 sen while net assets per share was RM2.15.'' AFG proposed dividend 3.70 sen per share.
For the nine months ended Dec 31, its net profit rose to RM324.27 million from RM224.17 million a year ago, on the back of revenue RM858.18 million.
AFG said the higher profit was due to higher net income, lower overheads and lower impairment charge.
On its prospects, AFG said the pace of growth would be supported by healthy domestic economic activity.
However, global financial uncertainty may result in a moderate pace in the overall growth of the Malaysian economy, it said.
'The group will continue to focus on strengthening the underlying business momentum, improving productivity while maintaining strong risk management practices, active liquidity management and a healthy capital position as an integral part of a long-term strategy for the Group to remain competitive.
'The group expects to record improved results for the financial year ending March 31, 2011,' it said.
It said on Monday, Feb 21 revenue rose to RM284.98 million from RM278.27 million. Earnings per share were 7.30 sen while net assets per share was RM2.15.'' AFG proposed dividend 3.70 sen per share.
For the nine months ended Dec 31, its net profit rose to RM324.27 million from RM224.17 million a year ago, on the back of revenue RM858.18 million.
AFG said the higher profit was due to higher net income, lower overheads and lower impairment charge.
On its prospects, AFG said the pace of growth would be supported by healthy domestic economic activity.
However, global financial uncertainty may result in a moderate pace in the overall growth of the Malaysian economy, it said.
'The group will continue to focus on strengthening the underlying business momentum, improving productivity while maintaining strong risk management practices, active liquidity management and a healthy capital position as an integral part of a long-term strategy for the Group to remain competitive.
'The group expects to record improved results for the financial year ending March 31, 2011,' it said.
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