KUALA LUMPUR: MMC Corp Bhd's earnings dipped 3.6% to RM104.60 million from RM108.60 million a year ago due to lower contribution from the energy and utilities division.
It said on Tuesday, revenue rose 2.5% to RM2.254 billion from RM2.198 billion. Earnings per shares were 3.44 sen compared with 3.57 sen.
'The group recorded a profit before zakat and taxation of RM121.9 million in the current quarter as compared to RM348.2 million in the preceding quarter. This was mainly due to lower contribution from the energy and utilities division as a result of the provision for impairment loss on intangible assets of an associate,' it said.
For the financial year ended Dec 31, 2010, it recorded a 47.6% increase to RM344.94 million from RM233.61 million while its full year revenue showed a 4.9% improvement at RM8.863 billion versus RM8.444 billion a year ago.
MMC said its profit before zakat and taxation for FY10 of RM855.7 million was higher by RM174.1 million compared FY2009.
It said it recorded higher profit from the energy & utilities division, which increased by RM30.5 million or 4.2% due to higher volume of gas sold, higher contribution from foreign associates and lower finance cost following repayment of loan during the period.
Lower losses recorded from corporate & others division by RM146.5 million or 88.7% were mainly due to gain on disposal of investment in SIME DARBY BHD [] and INTEGRATED RUBBER CORPORATION [] Bhd.
It said on Tuesday, revenue rose 2.5% to RM2.254 billion from RM2.198 billion. Earnings per shares were 3.44 sen compared with 3.57 sen.
'The group recorded a profit before zakat and taxation of RM121.9 million in the current quarter as compared to RM348.2 million in the preceding quarter. This was mainly due to lower contribution from the energy and utilities division as a result of the provision for impairment loss on intangible assets of an associate,' it said.
For the financial year ended Dec 31, 2010, it recorded a 47.6% increase to RM344.94 million from RM233.61 million while its full year revenue showed a 4.9% improvement at RM8.863 billion versus RM8.444 billion a year ago.
MMC said its profit before zakat and taxation for FY10 of RM855.7 million was higher by RM174.1 million compared FY2009.
It said it recorded higher profit from the energy & utilities division, which increased by RM30.5 million or 4.2% due to higher volume of gas sold, higher contribution from foreign associates and lower finance cost following repayment of loan during the period.
Lower losses recorded from corporate & others division by RM146.5 million or 88.7% were mainly due to gain on disposal of investment in SIME DARBY BHD [] and INTEGRATED RUBBER CORPORATION [] Bhd.
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