Friday 29 Mar 2024
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KUALA LUMPUR (Aug 17): Based on corporate announcements and news flow today, companies that may be in focus on Friday (Aug 18) could include the following: Notion VTec Bhd, Hong Leong Industries Bhd, Carlsberg Brewery Malaysia Bhd, Kerjaya Prospek Group Bhd, Allianz Malaysia Bhd, SP Setia Bhd, Pos Malaysia Bhd and Seacera Group Bhd

Notion VTec Bhd recorded a net profit of RM2.77 million for its third financial quarter ended June 30 — mainly derived from income tax gain — compared with a net loss of RM5.5 million a year ago.

Revenue rose 27.58% to RM67.78 million from RM53.12 million

The group said the setting up costs incurred in its Johor plant and upgrading of machineries in the Klang factory for the automotive segment weighed on its net profit.

It noted that the camera segment continues to be on a decline and the expected new businesses in the engineered products will likely contribute significantly in the next financial year onwards while preparations for pre-mass production are made.

It is also looking at an additional facility in the southern region to cater to the new growth.

For the nine-month period ended June 30, revenue expanded 16% to RM136.57 million from RM117.65 million a year ago. Net profit leapt 73.6% to RM10.88 million from RM6.27 million.

Notion VTec highlighted that its net operating cash flow hit a high of RM40.9 million for the nine months, which it described as "strong healthy cash flow", prompting it to declare a third interim dividend of 0.75 sen per share.

Hong Leong Industries Bhd plunged into the red for its fourth quarter ended June 30 with a net loss of RM104.57 million, compared with a net profit of RM69.49 million a year ago, due to a one-off full impairment provision of its investment in Malaysian Newsprint Industries Sdn Bhd (MNI).

It had made a RM172 million provision for its investment in MNI, which had commenced creditors' voluntary winding up proceedings.

Meanwhile, Hong Leong Industries’s quarterly revenue saw a slight downturn, dipping to RM569.01 million from RM573.6 million a year earlier.

For its full year ended June 30 (FY17), it saw net profit more than halve to RM103.09 million from RM247.22 million in FY16, owing to impairment provision.

If not for the impact of the provision, profit before tax for the year would have risen 6.12% to RM364 million from RM343 million in FY16, mainly due to higher profit contribution from an associate, it added.

Revenue for the year was up 4.11% at RM2.28 billion compared with RM2.19 billion previously.

Hong Leong Industries expects a “satisfactory” performance for consumer products in FY18.

Carlsberg Brewery Malaysia Bhd recorded a 19% rise in net profit for the second quarter ended June 30 to RM60.92 million from RM51.36 million a year ago, thanks to higher sales volume and a one-off trade discount adjustment in Singapore.

Revenue grew 4.12% to RM412.14 million from RM395.83 million.

It also registered a higher share of profit in the second quarter from its associate company in Sri Lanka — Lion Brewery (Ceylon) PLC — of RM2.4 million versus RM1 million in the corresponding quarter last year, due mainly to insurance compensation received relating to the floods that hit its factory in 2016.

Carlsberg declared an interim dividend of 10 sen per share, payable on Oct 6.

For the cumulative six months, net profit rose 12.26% to RM128.31 million from RM114.3 million a year ago, with revenue strengthening 7.43% to RM914.78 million from RM851.55 million.

Going forward, Carlsberg is confident of delivering satisfactory performance despite 2017's challenging market conditions.

Pos Malaysia Bhd’s net profit grew 19% to RM37.91 million for its first quarter ended June 30, compared with RM31.84 million in the previous year. The earnings growth was attributed to higher contribution from its courier segment, international division and its newly acquired logistics and aviation business.

Quarterly revenue expanded 47% to RM611.63 million from RM415.87 million a year ago.

On prospects, it remains positive given the growth of e-commerce, the key driver revenue growth.

Kerjaya Prospek Group Bhd has bagged a contract worth RM442 million for the main building works of a proposed development project from Aspen Vision City Sdn Bhd, a joint venture company of Aspen Group and IKEA Southeast.

The project known as Vertu Resort is the first high-rise urban resort-inspired residential development in Aspen Vision City in Penang.

It will feature a host of resort style facilities and amenities across 200,000 sq ft of space.

It said this is the biggest project award for this year, boosting outstanding orderbook to RM2.9 billion.

Allianz Malaysia Bhd’s net profit declined 13% to RM66.48 million for the second quarter ended June 30, from RM76.29 million a year earlier, mainly due to higher expenses. Earnings per share fell to 38.23 sen from 44.93 sen.
 
Revenue rose 4% to RM1.19 billion from RM1.15 billion, the group said.

Cumulative net profit for the first half of the year fell 11% to RM133.65 million from RM149.47 million in the previous corresponding period. Revenue increased 4% to RM2.4 billion from RM2.32 billion.

On prospects, it expects competition to intensify for its general insurance business and as such, it will take key initiatives to remain competitive such as building a technical pricing model, active portfolio and claims management, as well as disciplined expense management.

Property developer S P Setia Bhd said its net profit rose 8.38% to RM136.32 million for the second financial quarter ended June 30, from RM125.78 million a year earlier.

The group said the increase was due to higher units of residential properties being completed and handed over for Battersea Power Station Phase 1, as compared with lesser units completed in the preceding quarter.

However, revenue dropped 21.57% to RM794.71 million from RM1.01 billion due to lower income from its property development, construction and other operations.

S P Setia declared an interim dividend of 4 sen per share.

For the first half of the year, S P Setia’s net profit fell 3.08% to RM241.5 million, from RM249.17 million a year ago. Revenue dropped 9.72% to RM1.73 billion from RM1.92 billion.

Revenue from property development activities is lower by 23%, mainly due to completion of several phases in KL Eco City and the completion of the entire Eco Sanctuary in Singapore end of last year.

On prospects, S P Setia will focus more on the local market, with emphasis given to launches of mid-range landed properties in the Klang Valley.

Seacera Group Bhd plans to develop some RM10 billion worth of properties within its 200.6ha land in Semenyih, Selangor, as part of its diversification from tile manufacturing.
 
Seacera said the company planned to work with a prominent property developer to undertake a mixed project on the tract located about 8km from the Semenyih and Kajang town centres.

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