KUALA LUMPUR: The Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) posted pre-tax profit of RM114.08 million in the four quarter ended March 31, 2011, down 35.7% from RM177.45 million a year ago.
It said on Friday, May 6 the decrease was mainly due to lower revenue in engineering and CONSTRUCTION [] and marine repair and conversion segments.
However, its net profit was up 11.7% at RM128.64 million compared with RM115.15 million a year ago. There was a tax writeback of RM14.43 million compared with tax paid of RM60.03 million a year ago.
It reported revenue of RM923.29 million, down 41.9% compared with RM1.59 billion a year ago. Earnings per share were 8.0 sen versus 8.6 sen.
The board of directors declared a final dividend of 5.0 sen per share for the financial year ended March 31, 2011 amounting to RM80.0 million.
On the prospects, it said the upstream exploration and production activities by the oil and gas companies are expected to remain active and relatively strong.
'Based on MMHE's tenderbook, positive outcome from some tenders are expected,' it said.
MMHE said its engineering and construction segment would continue to benefit from existing level of activities from major projects such as the Gumusut-Kakap FPS, Kinabalu Topside and the Turkmenistan Block 1 Phase 1.
For the financial year ended March 31, 2011, it reported net profit of RM450.47 million, up 58.5% compared with RM284.11 million in the previous financial year ended March 31, 2010.
At the pre-tax level, it was 12.4% higher at RM424.02 million compared with RM377.21 million. Revenue fell 27.9% to RM4.43 billion compared with RM6.147 billion.
It said on Friday, May 6 the decrease was mainly due to lower revenue in engineering and CONSTRUCTION [] and marine repair and conversion segments.
However, its net profit was up 11.7% at RM128.64 million compared with RM115.15 million a year ago. There was a tax writeback of RM14.43 million compared with tax paid of RM60.03 million a year ago.
It reported revenue of RM923.29 million, down 41.9% compared with RM1.59 billion a year ago. Earnings per share were 8.0 sen versus 8.6 sen.
The board of directors declared a final dividend of 5.0 sen per share for the financial year ended March 31, 2011 amounting to RM80.0 million.
On the prospects, it said the upstream exploration and production activities by the oil and gas companies are expected to remain active and relatively strong.
'Based on MMHE's tenderbook, positive outcome from some tenders are expected,' it said.
MMHE said its engineering and construction segment would continue to benefit from existing level of activities from major projects such as the Gumusut-Kakap FPS, Kinabalu Topside and the Turkmenistan Block 1 Phase 1.
For the financial year ended March 31, 2011, it reported net profit of RM450.47 million, up 58.5% compared with RM284.11 million in the previous financial year ended March 31, 2010.
At the pre-tax level, it was 12.4% higher at RM424.02 million compared with RM377.21 million. Revenue fell 27.9% to RM4.43 billion compared with RM6.147 billion.
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