KUALA LUMPUR: MBM RESOURCES BHD []'s net profit for the fourth quarter (4Q) ended Dec 31, 2010 rose 36.2% to RM28.2 million from RM20.7 million a year ago, driven by the overall strong total industry (TIV) volume in the automotive sector.
Revenue for the quarter rose to RM389.88 million from RM292.46 million in 2009. Earnings per share was 11.64 sen, while net assets per share was RM4.19.
The company declared a special second tax-exempt interim dividend of five sen per share totaling RM12.13 million, and a special tax-exempt dividend of three sen per share totaling RM7.28 million.
For the financial year ended Dec 31, MBM's net profit surged to RM141.24 million from RM66.53 million a year earlier, on the back of revenue RM1.55 billion.
Reviewing its performance, MBM said it benefited from the strong TIV performance during the year, adding that its further expansion in dealerships and investments in new branch network enabled it to make solid gains in market share.
This resulted in revenue growth for all operating subsidiaries, it said.
"The ringgit's strength and improved operating efficiency at the manufacturing division helped boost overall margins. Associate contributions from Perodua and Hino were substantially higher.
"Volume sales and market shares strengthened further, with Perodua and Hino commanding the No 1 position by registration for passenger and commercial vehicle segments respectively," it said.
Revenue for the quarter rose to RM389.88 million from RM292.46 million in 2009. Earnings per share was 11.64 sen, while net assets per share was RM4.19.
The company declared a special second tax-exempt interim dividend of five sen per share totaling RM12.13 million, and a special tax-exempt dividend of three sen per share totaling RM7.28 million.
For the financial year ended Dec 31, MBM's net profit surged to RM141.24 million from RM66.53 million a year earlier, on the back of revenue RM1.55 billion.
Reviewing its performance, MBM said it benefited from the strong TIV performance during the year, adding that its further expansion in dealerships and investments in new branch network enabled it to make solid gains in market share.
This resulted in revenue growth for all operating subsidiaries, it said.
"The ringgit's strength and improved operating efficiency at the manufacturing division helped boost overall margins. Associate contributions from Perodua and Hino were substantially higher.
"Volume sales and market shares strengthened further, with Perodua and Hino commanding the No 1 position by registration for passenger and commercial vehicle segments respectively," it said.
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