Century Logistics 1Q net profit up 18.2% on higher procurement logistics services activity

-A +A

KUALA LUMPUR (May 14): Century Logistics Holdings Bhd's net profit rose 18.2% to RM7.47 million or 2.04 sen a share for its first quarter ended March 31, 2015(1QFY15) from RM6.32 million or 1.74 sen a share a year ago, mainly due to higher activity at its procurement logistics services segment.

Revenue for 1QFY15 also increased 4.1% to RM71.92 million from RM69.07 million in 1QFY14.

In a filing with Bursa Malaysia today, the supply chain solutions provider declared an interim dividend of 1 sen per share for the financial year ending Dec 31, 2015 (FY15), payable on June 17, 2015.

Century Logistics said it remains confident of its performance in FY15 despite the weaker global and uncertain economic climate due largely to the dip in oil price.

"This confidence stems from the successful business model which the Group has put in place that focuses on providing value added logistics solutions, while maintaining cost efficiencies," it added.

Century Logistics (fundamental:2.3; valuation:2.4) shares closed down 2.31% at 84.5 sen today, bringing a market capitalisation of RM321.34 million.

(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.)