Friday 29 Mar 2024
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KUALA LUMPUR (Feb 17): Crest Builder Holdings Bhd (fundamental: 0.6; valuation: 1.8) saw its net profit jump 15.2% to RM13.34 million for the fourth quarter ended Dec 31, 2014 (4QFY14) from RM11.58 million a year ago.

However, it reported a pre-tax loss of RM2.79 million in 4QFY14 compared with a pre-tax profit of RM21.35 million in 4QFY13, due to an increase in administrative expenses and finance cost amounting to RM11.9 million as a result of the issuance of sukuk murahabah notes by one of its subsidiaries to refinance its borrowings in the quarter under review.

Revenue for 4QFY14 fell 3.8% to RM56.48 million from RM58.71 million in 4QFY13.

Earnings per share (EPS) rose to 8.1 sen from 7.3 sen in 4QFY13.

For the 12 months period (FY14), its net profit fell 57.4% to RM20.76 million from RM48.77 million the previous year, while revenue also decreased 6.4% to RM209.06 million from RM223.4 million in FY13.

EPS for FY14 was lower at 12.8 sen compared with 32.6 in FY13.

Going forward, Crest Builder said it will continue to bid actively for projects under the 10th Malaysia Plan and infrastructure projects planned under the Economic Transformation Programme.

“With the completion of the UiTM Tapah concession project and its refinancing exercise, the group expects better margins moving forward.

However, it warned that the volatility of global raw material prices will continue to impact the group’s performance.

"Despite the global economic uncertainty, the board is optimistic that the group will continue to remain profitable for the year 2015," Crest Builder said, adding that the property development division will continue to contribute positively to the group.

Crest Builder shares closed 3 sen or 2.5% higher to RM1.23 today, bringing its market capitalisation to RM196.69 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.)
 

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