Boustead 3Q pre-tax profit up 81 per cent to RM120.4 million
Revenue, however, declined to RM2.023 billion from RM2.12 billion previously. For the nine-month period ended Sept 30, 2016, its pre-tax profit grew to RM479.2 million from RM219.5 million.
KUALA LUMPUR: Boustead Holdings Bhd pre-tax profit for the third quarter ended Sept 30, 2016 (Q3 2016) increased 81 per cent to RM120.4 million from RM66.7 million in the same period last year.
“Revenue, however, declined to RM2.023 billion from RM2.12 billion previously. For the ninemonth period ended Sept 30, 2016, its pre- tax profit grew to RM479.2 million from RM219.5 million,” the company said in a filing to Bursa Malaysia yesterday.
In a separate statement, Boustead said the higher earnings for the nine-month period was from gains realised from the disposal of the group’s stake in Jendela Hikmat Sdn Bhd and sale of non- core plantation land.
“Our board of directors has declared a third interim dividend of five sen per share for the finan-
Boustead Holdings Bhd
cial year ending Dec 31, 2016,” it said.
Deputy chairman/group managing director Tan Sri Lodin Wok Kamaruddin said despite global economic headwinds, most of the group’s divisions recorded improved results while the pick-up in crude palm oil prices also contributed to the stronger earnings.
The group’s main operations are in plantation, heavy industries, property, finance and investment, trading and industrial, and pharmaceutical. — Bernama