KUALA LUMPUR: Boustead Holdings Bhd earnings rose 24.3% to RM112.20 million in the first quarter ended March 31, 2011 from RM90.20 million a year ago, boosted by the plantations division.
It said on Friday, May 27 revenue rose about 2% to RM1.58 billion from RM1.55 billion while earnings per share were 11.93 sen compared with 9.75 sen. It declared dividend of eight sen per share. Profit before tax was 25% higher at RM168.2 million than the RM134.6 million a year ago.
On the revenue performance, it said plantation revenue increased by 5%, on stronger palm product prices which more than offset the lower fresh fruit bunches (FFB) crop.
The plantation division accounted for pre-tax profit of RM99 million (2010: RM62.3 million). During the period, the division achieved an average palm oil price of RM3,541 per tonne, up RM1,042 or 42% against last year's average of RM2,499 The cumulative FFB crop totalling 253,586 tonnes was 17% lower due to the prolonged wet weather.
As for its heavy industries division, it contributed a pre-tax profit of RM7.2 million, as compared with last year's profit of RM23.4 million due to lower progress billings.
The property division's pre-tax profit of RM12.2 million was 94% higher than last year mainly on improved contribution from property development in tandem with the progress of construction.
The new pharmaceutical division was in the black with pre-tax profit of RM9.1 million versus a loss of RM1.9 million a year ago, mainly due to higher sales revenue while margins have also improved.
The finance and investment division posted a cumulative pre-tax profit of RM11.9 million, as compared with the RM19.7 million a year ago, largely on higher interest expense. The manufacturing and trading division's pre-tax profit for the current quarter was higher at RM28.8 million (2010: RM24.8 million) as the division's main contributor BH Petrol had achieved a higher sales volume and stockholding gains.
TOP PICKS BY EDGEPROP
Build your own semi d / bungalow in ampang
A Gem in Tanarimba, Janda Baik, Bentong
Malaysia's Salem High Country Tanarimba Janda Baik
Taman Sri Gombak Heights/Gombak Groove @ Sri Gombak
[270K HOT SELLING INVESTMENT PASSIVE INCOME 2R+2B]
Ukay perdana sierra hijauan ampang semi d
[RENTAL GET RM 3000 READY TENANT 2020 NEW PROJECT]