|
The Group’s continuing operations reported a pre-tax profit of RM37.97 million for the six
months ended 30 June 2010, compared to a pre-tax profit of RM30.28 million for the six
months ended 30 June 2009.
The Manufacturing Division, being the key driver to the Group’s profitability, continued to
achieve healthy results for the period ended 30 June 2010. The Construction Materials Division
recorded significant higher profit compared to the previous corresponding period ended 30 June
2009, benefiting from the government’s continued spending on rural roads. The Trading
Division was able to sustain its profitability, largely attributed to its strong sales.
The Construction Division had no new contract and had no major construction projects on
hand. As a result, the Division registered a lower profit in the current period under review.
The Property Development Division registered profit for the six months ended 30 June 2010
mainly due to the recognition of profit from a major development contract including the sale of
land. Higher interest income earned by the Company from higher cash reserves and higher
deposit rates has helped to improve the performance of the Group.
The Group’s associate in the steel fabrication and manufacturing of steel pipes industry’s
excellent performance in period ended 30 June 2010 has contributed significantly to the
Group’s results. However, the Group’s other associate in the investment banking industry
suffered a significant loss due to impairment made in respect of the investment bank’s loans
and advances.
| |
|
|
|
| |
3 months ended |
6 months ended |
| |
30.6.2010 |
30.6.2009 |
30.6.2010 |
30.6.2009 |
| |
RM'000 |
RM'000 |
RM'000 |
RM'000 |
| |
|
|
|
| Manufacturing |
98,630 |
90,547 |
193,629 |
172,846 |
| Construction |
14,219 |
49,265 |
18,521 |
85,032 |
| Construction materials |
42,312 |
31,488 |
75,760 |
59,764 |
| Trading |
22,081 |
32,420 |
64,549 |
61,828 |
| Property developement |
72,052 |
5,977 |
74,789 |
9,870 |
| Others * |
6,081 |
8,204 |
13,647 |
14,221 |
| |
|
| Total revenue including inter-segment sales |
255,375 |
217,901 |
440,895 |
403,561 |
| Elimination of inter-segment sales |
(6,037) |
(8,494) |
(13,924) |
(14,621) |
| |
|
| Total revenue |
249,338 |
209,407 |
426,971 |
388,940 |
|
|
|
|
|
| Results from continuing operations: |
|
|
|
|
| Manufacturing |
17,401 |
17,931 |
36,839 |
36,024 |
| Construction |
3,202 |
3,585 |
5,516 |
9,134 |
| Construction materials |
7,260 |
4,692 |
12,116 |
7,496 |
| Trading |
1,384 |
1,667 |
3,928 |
3,329 |
| Property development |
671 |
(497) |
230 |
(277) |
| Others * |
(26) |
(1,099) |
(3,266) |
(2,920) |
| |
|
| Segment operating profit |
29,892 |
26,279 |
55,363 |
52,786 |
| Unallocated corporate expense |
(3,487) |
1,391 |
(6,585) |
(6,079) |
| Finance costs |
(7,560) |
(9,579) |
(15,356) |
(19,845) |
| Share of profit/(loss) of associates |
(2,221) |
2,338 |
4,551 |
2,042 |
| Share of profit of jointly controlled entities |
0 |
0 |
0 |
1,375 |
| |
|
| Profit before tax |
16,624 |
20,609 |
37,973 |
30,279 |
| Income tax expenses |
(5,676) |
(6,827) |
(12,285) |
(13,410) |
| Results from discontinued operations |
0 |
986 |
0 |
(492) |
| |
|
| Net profit for the period |
10,948 |
14,768 |
25,688 |
16,377 |
| |
|
| * Financial services, IT services, education and others |
|
|
|
|
