Ken Holdings sees net profit for 4QFY09 double to RM4.75 million

KUALA LUMPUR: Ken Holdings Bhd saw the net profit for its fourth quarter ended Dec 31, 2009 (4QFY09) double to RM4.75 million, from RM2.28 million a year earlier, despite the lower revenue.

The higher profit was due to the write back of allowance provided earlier for doubtful debt, it said in a filing to Bursa Malaysia on Feb 23. Its revenue for the quarter dropped 57.8% to RM5.24 million, from RM12.4 million the previous year.

It has declared a first and final dividend comprising two sen per share tax-exempt dividend and another 2 sen dividend per share less tax 25% for the financial year. The dividend declaration is subjected to shareholders’ approval.

Its basic earnings per share for the quarter increased to 5.07 sen, from 2.37 sen.