KUALA LUMPUR: POS MALAYSIA BHD []'s net profit fell 59% to RM6.08 million in the fourth quarter ended Dec 31, 2010 from RM14.93 million a year ago due provision for its investment in TRANSMILE GROUP BHD [] and one-off impairment provision for the capital expenditure.
It said on Monday, Feb 28 that its revenue rose 23.4% to RM277.33 million from RM224.58 million while earnings per share were 1.13 sen compared with 2.78 sen.
Pos Malaysia said it recorded 16.9% growth from operations of RM26 million (2009: RM22.2 million) for the quarter ended Dec 31, 2010 due to an increase in revenue by 23.5% on-year.
'As a result of provision of the investment in Transmile and one-off impairment provision relating to capital expenditure (capex) incurred for the postal counter system, the profit before taxation for current quarter was RM10.0 million as compared to RM28.4 million in the preceding year corresponding quarter,' it said.
For the financial year ended Dec 31, 2010, its earnings declined by 11% to RM67.11 million from RM75.41 million in FY09. Its revenue rose 12.4% to RM1.014 billion from RM902.56 million.'' EPS were 12.50 sen compared with 14.04 sen.
'The group registered a substantial growth of 28.3% in profit from operations of RM105.7 million (2009: RM82.4 million) for the year ended Dec 31, 2010, as a result of domestic tariff increase in the middle of the year coupled with the benefits realised from transformation initiatives,' it said.
Pos Malaysia said FY10 included two major impairment provisions; one relating to provision of the investment in Transmile Group Berhad (TGB) of RM25.1 million and the other is the one-off impairment provision relating to capex incurred for the postal counter system (classified under property, plant and equipment) of RM22.3 million.
'As a result of these impairment provisions, the profit before taxation registered RM99.1 million as compared to RM109.3 million in the previous financial year ended,' it said.
It said on Monday, Feb 28 that its revenue rose 23.4% to RM277.33 million from RM224.58 million while earnings per share were 1.13 sen compared with 2.78 sen.
Pos Malaysia said it recorded 16.9% growth from operations of RM26 million (2009: RM22.2 million) for the quarter ended Dec 31, 2010 due to an increase in revenue by 23.5% on-year.
'As a result of provision of the investment in Transmile and one-off impairment provision relating to capital expenditure (capex) incurred for the postal counter system, the profit before taxation for current quarter was RM10.0 million as compared to RM28.4 million in the preceding year corresponding quarter,' it said.
For the financial year ended Dec 31, 2010, its earnings declined by 11% to RM67.11 million from RM75.41 million in FY09. Its revenue rose 12.4% to RM1.014 billion from RM902.56 million.'' EPS were 12.50 sen compared with 14.04 sen.
'The group registered a substantial growth of 28.3% in profit from operations of RM105.7 million (2009: RM82.4 million) for the year ended Dec 31, 2010, as a result of domestic tariff increase in the middle of the year coupled with the benefits realised from transformation initiatives,' it said.
Pos Malaysia said FY10 included two major impairment provisions; one relating to provision of the investment in Transmile Group Berhad (TGB) of RM25.1 million and the other is the one-off impairment provision relating to capex incurred for the postal counter system (classified under property, plant and equipment) of RM22.3 million.
'As a result of these impairment provisions, the profit before taxation registered RM99.1 million as compared to RM109.3 million in the previous financial year ended,' it said.
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