KUALA LUMPUR: BOUSTEAD HOLDINGS BHD []'s net profit rose 41.4% to RM208.9 million for the fourth quarter ended Dec 31, 2010 from RM147.7 million a year ago due mainly to notable increase in revenue from both the PLANTATION [] and trading divisions.
It said on Friday, Feb 25 revenue for the quarter rose to RM1.69 billion from RM1.48 billion. Earnings per share were 22.22 sen while net assets per share was RM4.50. It declared a fourth interim single tier dividend of 12 sen per share, to be paid on March 31 this year.
For the year ended Dec 31, 2010 Boustead's net profit jumped 57.3% to RM537.5 million from RM341.6 million in 2009, while revenue grew to RM6.18 billion from RM5.39 billion.
Commenting on its prospects, Boustead said although the Malaysian economy was projected to grow at a steady pace in 2011, and the outlook for the other regional economies was also expected to be favourable, it was bracing itself for yet another challenging year ahead, as the global economies may be badly hit in the event of a large sovereign debt default in Europe in addition to the short-term monetary policies tightening by China and India.
It said plantation's earnings will very much be dependent on palm oil prices which are expected to stay at attractive levels in 2011, largely due to the low supply situation brought on by adverse weather conditions and the expected increase in demand.
It said the heavy industries division's prospects would be underpinned by contracts on hand, and the finalisation of the value and duration of the project to construct six naval vessels will be positive for earnings.
'The property division can look forward to stable recurring income from its portfolio of commercial and retail PROPERTIES [] and the expansion of the hotel operations.
'The addition of PHARMANIAGA BHD [] in the coming year will enable the group to take advantage of the Pharmaniaga brand and infrastructure to grow revenue and profit in the lucrative pharmaceutical business. The other divisions are expected to perform satisfactorily in 2011,' it said.
It said on Friday, Feb 25 revenue for the quarter rose to RM1.69 billion from RM1.48 billion. Earnings per share were 22.22 sen while net assets per share was RM4.50. It declared a fourth interim single tier dividend of 12 sen per share, to be paid on March 31 this year.
For the year ended Dec 31, 2010 Boustead's net profit jumped 57.3% to RM537.5 million from RM341.6 million in 2009, while revenue grew to RM6.18 billion from RM5.39 billion.
Commenting on its prospects, Boustead said although the Malaysian economy was projected to grow at a steady pace in 2011, and the outlook for the other regional economies was also expected to be favourable, it was bracing itself for yet another challenging year ahead, as the global economies may be badly hit in the event of a large sovereign debt default in Europe in addition to the short-term monetary policies tightening by China and India.
It said plantation's earnings will very much be dependent on palm oil prices which are expected to stay at attractive levels in 2011, largely due to the low supply situation brought on by adverse weather conditions and the expected increase in demand.
It said the heavy industries division's prospects would be underpinned by contracts on hand, and the finalisation of the value and duration of the project to construct six naval vessels will be positive for earnings.
'The property division can look forward to stable recurring income from its portfolio of commercial and retail PROPERTIES [] and the expansion of the hotel operations.
'The addition of PHARMANIAGA BHD [] in the coming year will enable the group to take advantage of the Pharmaniaga brand and infrastructure to grow revenue and profit in the lucrative pharmaceutical business. The other divisions are expected to perform satisfactorily in 2011,' it said.
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