KUALA LUMPUR: Tasek Corp Bhd posted a strong set of earnings in the fourth quarter ended Dec 31, 2010 with net profit surging 325% to RM69.1 million from RM16.25 million a year ago and it also announced bumper dividends for its shareholders.
It said on Friday, Feb 18 the much improved group results apart from the RM43.6 million gain from disposal of PLANTATION [] and other property, was mainly in line with the increase in group's total revenue compounded by better local cement sales margin. In addition, higher interest income also contributed to the better performance during the reporting quarter.
Tasek said revenue rose 15% to RM133.67 million from RM116.08 million. Earnings per share were 43.3 sen compared with 8.77 sen.
It proposed a bumper dividend, comprising of preference dividend of 6%, ordinary dividend 30% and special dividend 50%
'The proposed final dividend, if approved by shareholders at the forthcoming AGM, will be payable on June 17, 2011 to holders of ordinary shares and 6% cumulative participating preference shares whose names appear in the record of depositors as at the close of business on May 20, 2011,' it said.
For FY ended Dec 31, 2010, the net profit jumped 97.2% to RM132.41 million from RM67.12 million, revenue was RM546.76 million compared with RM520.78 million. It had cash and cash equivalents of RM436.90 million as at Dec 31, 2010.
As for the prospects, it said demand for cement and concrete products was expected to remain competitive. However, as enhancement to the group's overall competitiveness, the group would continue to intensify its efforts in optimising performance and efficiency
It said on Friday, Feb 18 the much improved group results apart from the RM43.6 million gain from disposal of PLANTATION [] and other property, was mainly in line with the increase in group's total revenue compounded by better local cement sales margin. In addition, higher interest income also contributed to the better performance during the reporting quarter.
Tasek said revenue rose 15% to RM133.67 million from RM116.08 million. Earnings per share were 43.3 sen compared with 8.77 sen.
It proposed a bumper dividend, comprising of preference dividend of 6%, ordinary dividend 30% and special dividend 50%
'The proposed final dividend, if approved by shareholders at the forthcoming AGM, will be payable on June 17, 2011 to holders of ordinary shares and 6% cumulative participating preference shares whose names appear in the record of depositors as at the close of business on May 20, 2011,' it said.
For FY ended Dec 31, 2010, the net profit jumped 97.2% to RM132.41 million from RM67.12 million, revenue was RM546.76 million compared with RM520.78 million. It had cash and cash equivalents of RM436.90 million as at Dec 31, 2010.
As for the prospects, it said demand for cement and concrete products was expected to remain competitive. However, as enhancement to the group's overall competitiveness, the group would continue to intensify its efforts in optimising performance and efficiency
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