KUALA LUMPUR: DRB-HICOM BHD []'s earnings were 72% lower at RM72.39 million from RM259.36 million a year ago due to the absence of exceptional gains of RM211.43 million from the disposal of estates.
It said on Thursday, May 26 revenue rose 25.1% to RM1.99 billion from RM1.59 billion a year ago. Earnings per share were 3.75 sen versus 13.41 sen. It proposed a final dividend of four sen per share.
For the FY ended March 31, 2011, its net profit was flat at RM472.46 million compared with RM472.298 million in FY10.
'The group registered a pre-tax profit of RM701.52 million compared to RM657.89 million in the previous financial year, an increase of 6.6%.'' Included in the current and previous financial years are one-off exceptional items i.e. negative goodwill and gain on disposal of estates respectively.'' If these items are excluded, the profits from operational activities have increased by 41% to RM630.31 million from RM446.46 million,' it said.
DRB-Hicom achieved a 7.8% growth in revenue to RM6.80 billion compared to RM6.31 billion primarily driven by better performance achieved by its automotive and services sectors, which contributed 59% and 39% respectively to its total revenue.
'The strong group operational performance attributed significantly to a higher profit in FY2011. Operational profit now accounts for 90% of the reported total profit of RM701.5 million compared to 68% a year ago,' it said.
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It said on Thursday, May 26 revenue rose 25.1% to RM1.99 billion from RM1.59 billion a year ago. Earnings per share were 3.75 sen versus 13.41 sen. It proposed a final dividend of four sen per share.
For the FY ended March 31, 2011, its net profit was flat at RM472.46 million compared with RM472.298 million in FY10.
'The group registered a pre-tax profit of RM701.52 million compared to RM657.89 million in the previous financial year, an increase of 6.6%.'' Included in the current and previous financial years are one-off exceptional items i.e. negative goodwill and gain on disposal of estates respectively.'' If these items are excluded, the profits from operational activities have increased by 41% to RM630.31 million from RM446.46 million,' it said.
DRB-Hicom achieved a 7.8% growth in revenue to RM6.80 billion compared to RM6.31 billion primarily driven by better performance achieved by its automotive and services sectors, which contributed 59% and 39% respectively to its total revenue.
'The strong group operational performance attributed significantly to a higher profit in FY2011. Operational profit now accounts for 90% of the reported total profit of RM701.5 million compared to 68% a year ago,' it said.
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