Friday 29 Mar 2024
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KUALA LUMPUR (Nov 30): Boustead Holdings Bhd net profit for the third quarter ended Sept 30, 2015 (3QFY15) fell 67% to RM6 million from RM18.2 million due mainly to a decline in revenue in all its divisions.

In a filing to Bursa Malaysia today, Boustead said revenue for the quarter fell to RM2.12 billion from RM2.69 billion a year earlier.

Earnings per share fell to 0.58 sen from 1.76 sen in 3QFY14.

The conglomerate declared a third interim dividend of 6 sen per share for the financial year ending Dec 31, 2015, to be paid on Jan 12, 2016.

For the nine months ended Sept 30 (9MFY15), Boustead's net profit fell 91.76% to RM9 million from RM109.2 million a year ago, while revenue fell to RM6.22 billion versus RM7.78 billion in 9MFY14.

In a statement today, Boustead deputy chairman and managing director Tan Sri Lodin Wok Kamaruddin said it has been a trying economic period, with external pressures impacting the group's earnings.

"However, despite the volatile economic climate, the diversified nature of the group has enabled us to remain resilient and deliver sustained results across most of our divisions.

"Despite the challenging environment, by leveraging on our strong track record and multiple business streams, we are confident that we will be able to weather through this and continue to move forward," he said.

(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

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