Boustead net profit in Q1 jumps to RM41m

New Straits Times - - Business -

Boustead Hold­ings Bhd’s net profit jumped to RM40.9 mil­lion in the first quar­ter ended March 31 2017 from RM9.5 mil­lion recorded in the same quar­ter a year ago.

Boustead said the bet­ter net profit was due to higher con­tri­bu­tion from its plan­ta­tion, fi­nance and in­vest­ment, and trad­ing and in­dus­trial di­vi­sions.

Group rev­enue dur­ing the quar­ter in­creased 27.9 per cent to RM2.38 bil­lion from RM1.86 bil­lion.

“Given the di­ver­si­fied na­ture of the group, we are pleased that most of our di­vi­sions have per­formed well. Our plantations di­vi­sion led the way de­liv­er­ing good year-on-year growth, fol­lowed by our trad­ing and in­dus­trial di­vi­sion,” said deputy chair­man and group man­ag­ing direc­tor Tan Sri Lodin Wok Ka­marud­din.

“We are con­scious that there are tough mar­ket con­di­tions ahead, both re­gion­ally and in­ter­na­tion­ally, which will def­i­nitely have an im­pact on lo­cal sen­ti­ments. Nev­er­the­less, our six di­vi­sions are fo­cused on tight­en­ing op­er­a­tional ef­fi­cien­cies and en­hanc­ing or­ganic growth with a view to de­liver on the bot­tom line,” he added. Boustead de­clared a first in­terim div­i­dend of 2.5 sen for the fi­nan­cial year end­ing De­cem­ber 31 2017. The div­i­dend will be paid on June 23, it said.

Tan Sri Lodin Wok Ka­marud­din

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