Friday 29 Mar 2024
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KUALA LUMPUR (Feb 1): Nomura said Lotte Chemical Titan Holding Bhd's fourth quarter results were in line with forecast.

Nomura wrote in a note that its Lotte Chemical Titan share target price is RM6.50. "4Q in line," Nomura said.

On Tuesday (Jan 30), Lotte Chemical Titan said net profit rose to RM378.15 million in the fourth quarter ended Dec 31, 2017 (4QFY17) from RM290.86 million while revenue fell to RM2.12 billion from RM2.15 billion.

For the full year, the company said net profit declined to RM1.06 billion from RM1.32 billion a year earlier while revenue was lower at RM7.82 billion compared to RM8.14 billion.

Lotte Chemical Titan also proposed a dividend of 23 sen a share.

"The company wishes to inform that the board of directors has resolved to recommend a final single tier dividend of 23 sen per share for the financial year ended Dec 31, 2017, subject to the approval of the company's shareholders at the forthcoming annual general meeting," it said.

 

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