Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 16): Integrax Bhd saw its net profit for the fourth quarter ended Dec 31, 2014 (4QFY14) grow 14.35% to RM12.27 million from RM10.73 million a year ago on other gains and higher profits of its associated company Lumut Maritime Sdn Bhd (LMTSB).

However, the group said part of the gain was offset by higher depreciation and administrative overheads.

Its revenue for the quarter expanded by 29.88% to RM30.6 million from RM23.56 million in 4QFY13, Integrax told Bursa Malaysia in a filing today.

Earnings per share (EPS) rose to 4.08 sen from 3.57 sen a year ago. 

For the full year (FY14), Integrax's net profit declined 5.4% to RM38.7 million from RM40.91 million, while revenue climbed 7.4% to RM99.79 million from RM92.93 million in FY13.

EPS was lower at 12.86 sen against 13.60 sen in FY13.

On prospects, Integrax expects its cargo throughput at Lekir Bulk Terminal and Lumut Maritime Terminal to remain resilient.

Apart from this, the group said it is currently in negotiations with TNB Manjung Five Sdn Bhd (TNBM5) on the terms and conditions which will govern the provision of coal handling services for coal imported for the M5 Power Plant.

"The Lumut-Manjung corridor is expected to benefit from the M4 and M5 Power Plant projects and Vale’s investment to set up an iron ore transhipment hub and pelletisation plant in Teluk Rubiah," the group said. 

"We are currently in discussions with Vale to determine Integrax’s level of participation in its projects. Negotiations are also currently underway to secure new customers," it added.

Integrax's share price was down 1.41% to RM2.80 today, bringing a market capitalisation of RM842.26 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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