Tuesday, August 23, 2011

Mudajaya 2Q earnings up 11.2% to RM60.29m

KUALA LUMPUR: MUDAJAYA GROUP BHD [] chalked up earnings of RM60.29 million in the second quarter ended June 30, 2011, which an 11.2% increase from RM54.22 million a year ago mainly due to more activities.

It said on Tuesday, Aug 23 that its revenue increased by 70.6% to RM356.11 million from RM208.63 million. Earnings per share were 14.77 sen compared with 13.24 sen a year ago.

The board of directors declared a second interim single tier dividend of 12.5% or 2.5 sen per share of 20 sen each for the financial year ending Dec 31, 2011.

Its revenue of RM356.1 million and profit before taxation of RM78.2 million were higher when compared with the RM223.1million and RM52.8 million in 1Q.

'The increase in revenue and profit before taxation were mainly attributable to the increased level of activities during the current quarter,' it said.

For the first half, its net profit was 3.1% lower at RM101.54 million compared with RM104.82 million while at the pre-tax level, it slipped 13% to RM131.07 million from RM150.72 million.'' Its revenue increased 29.3% to RM579.19 million from RM447.98 million.

'The growth in revenue of 29.3% was mainly attributable to the increased level of activities in the current quarter whilst the lower profit before taxation was affected by the stronger Ringgit against US Dollar.

'The delay in the Chhattisgarh power plant project experienced in the first quarter of 2011 has been resolved and work progress at site has picked up,' it said.

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