Thursday, May 19, 2011

TDM 1Q net profit jumps 49% to RM29.04m

KUALA LUMPUR: TDM BHD [] net profit for the first quarter ended March 31, 2011 jumped 49.2% to RM29.04 million from RM19.46 on the back of an 18% increase in revenue to RM105.79 million.

Earnings per share was 12.72 sen while net assets per share was RM3.34.

Reviewing its performance on Thursday, May 19, TDM said its PLANTATION [] division reported a 43% increase in pre-tax profit mainly due higher crude palm oil (CPO) and palm kernel prices (PK).

Meanwhile, its healthcare division revenue rose 6% due to increase in patients at its hospitals and the food division achieved profit of RM200,000 due to higher average prices of live bird.

On its prospects, TDM said that based on prevailing CPO and PK prices, the outlook for the financial year ending Dec 31, 2011 remained favourable.

'Barring unforeseen circumstances, the group is expected to continue to record satisfactory performance in the current financial year,' it said.

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