FM Global Logistics declares two sen dividend as 4Q net profit up 46%

FM Global Logistics declares two sen dividend as 4Q net profit up 46%
-A +A

KUALA LUMPUR (Aug 22): FM Global Logistics Holdings Bhd posted a 46.35% jump in net profit for the fourth quarter ended June 30, 2022 (4QFY22), to RM12.56 million from RM8.58 million a year prior, on the back of increased business activities in both its Malaysian and overseas operations.

Earnings per share climbed to 2.25 sen from 1.54 sen, according to the international freight service provider’s filing with Bursa Malaysia on Monday (Aug 22).

Quarterly revenue rose 46.23% to RM333.81 million for 4QFY22 from RM228.27 million a year ago. 

The company declared a third interim dividend of two sen per share, with an ex-date of Sept 29, 2022, which will be paid on Oct 7. 

For the full year, the group logged a net profit of RM45.59 million, up 68.61% from RM27.04 million for FY21. 

Meanwhile, revenue increased 51.02% to RM1.15 billion for FY22, compared with RM763.43 million a year earlier.

Going forward, FM Global Logistics said it is confident that its business activities will continue to be positive, but noted that it is mindful of the challenges and potential risks in the uncertain global economic situation as well as from supply chain disruptions.

“The group will continue to focus on expanding its customer base regionally, and improve cost management via operational efficiencies,” it added. 

At the noon break on Monday, shares in FM Global Logistics were unchanged at 58 sen, giving the company a market capitalisation of RM323.9 million.

Surin Murugiah