SINGAPORE (May 30): MeGroup reported a 84.4% drop in full-year earnings to RM1.4 million (S$0.46 million), from RM8.9 million a year ago.
The weaker bottomline was largely due to the absence of a one-time gain of RM4.8 million received in FY18 from the Malaysian government for the Mass Rapid Transit (MRT) system compensation due to land acquisition; the absence of the gain on disposal of Yatta Group amounting to some RM0.4 million in FY18 and; the one-off listing expenses of RM3.0 million that was recognised in FY19.
Full-year revenue increased 67.7% to RM243.5 million from a year ago.
On a segmental level, revenue from the group’s dealership business increased 93.4% to RM207.3 million in FY19, mostly due to four months of contribution from the newly-opened dealerships Honda dealership in Kuala Selangor and the Peugeot dealership in Setia Alam, and an increase in vehicle sales at...(click on link for full story on theedgesingapore.com)