Showing posts with label Quarterly Earning Report. Show all posts
AEON Credit FY12 earnings up 50%
KUALA LUMPUR: AEON Credit Service (M) Bhd posted a 43% increase in net profit for its 4QFY12 ended February to RM27.72 million from RM19.4 million a year ago.
Revenue in 4Q increased by 27.9% to RM94.28 million, from RM73.73 million a year ago. For FY12, it posted a 50.7% rise in net profit to RM95.61 million from RM63.43 million a year ago on the back of increased revenue of 27.7% to RM344.27 million from RM269.61 million previously.
In notes accompanying its financials yesterday, AEON Credit said it realised growth in its business and receivables due to an increase in financing transaction volume, which was attributable to the continued favourable economic environment, and marketing and promotion activities.
Its total transaction and financing volume in 4Q and FY12 were RM440 million and RM1.66 billion respectively, representing a growth of 26.2% and 40.9% respectively from a year ago.
Meanwhile, its financing receivables at as end-FY12 stood at RM1.49 billion, representing a growth of 34.5% from RM1.11 billion in FY11. AEON Credit said that its non-performing loans (NPL) ratio was 1.8% as at Feb 2012 compared to 1.83% in February 2011, reflecting satisfactory asset quality despite a sharp growth in its business and receivables in the year.
It said other operating income of RM24.9 million for FY12 was 44.4% higher than the previous year, due to continued growth in fee income, especially for sales in insurance products and increase in bad debts recovered.
AEON Credit yesterday proposed a single-tier final dividend of 16.8 sen for FY12. Including this, total dividends for FY12 amounted to 30 sen. In FY11, it paid dividends amounting to 26.5 sen.
On its prospects, AEON Credit said it expects to be able to sustain its performance in FY13 based on its business strategies, and marketing and branding efforts.
AEON Credit shares closed three sen higher to RM8.74 yesterday, representing a year-to-date return of 26.7%, according to Bloomberg.
Its shares have been on an uptrend since RM4.50 levels in September 2011. Over the past 52-weeks it has traded between a high of RM9 in March 2012 and low of RM4.04 in April 2011.
This article appeared in The Edge Financial Daily, April 20, 2012.
Revenue in 4Q increased by 27.9% to RM94.28 million, from RM73.73 million a year ago. For FY12, it posted a 50.7% rise in net profit to RM95.61 million from RM63.43 million a year ago on the back of increased revenue of 27.7% to RM344.27 million from RM269.61 million previously.
In notes accompanying its financials yesterday, AEON Credit said it realised growth in its business and receivables due to an increase in financing transaction volume, which was attributable to the continued favourable economic environment, and marketing and promotion activities.
Its total transaction and financing volume in 4Q and FY12 were RM440 million and RM1.66 billion respectively, representing a growth of 26.2% and 40.9% respectively from a year ago.
Meanwhile, its financing receivables at as end-FY12 stood at RM1.49 billion, representing a growth of 34.5% from RM1.11 billion in FY11. AEON Credit said that its non-performing loans (NPL) ratio was 1.8% as at Feb 2012 compared to 1.83% in February 2011, reflecting satisfactory asset quality despite a sharp growth in its business and receivables in the year.
It said other operating income of RM24.9 million for FY12 was 44.4% higher than the previous year, due to continued growth in fee income, especially for sales in insurance products and increase in bad debts recovered.
AEON Credit yesterday proposed a single-tier final dividend of 16.8 sen for FY12. Including this, total dividends for FY12 amounted to 30 sen. In FY11, it paid dividends amounting to 26.5 sen.
On its prospects, AEON Credit said it expects to be able to sustain its performance in FY13 based on its business strategies, and marketing and branding efforts.
AEON Credit shares closed three sen higher to RM8.74 yesterday, representing a year-to-date return of 26.7%, according to Bloomberg.
Its shares have been on an uptrend since RM4.50 levels in September 2011. Over the past 52-weeks it has traded between a high of RM9 in March 2012 and low of RM4.04 in April 2011.
This article appeared in The Edge Financial Daily, April 20, 2012.
Public Bank Group Achieved Record Pre-Tax Profit of RM1.25billion for the first quarter of 2012
Chairman’s Review
The Founder and Chairman of Public Bank, Tan Sri Dato’ Sri Dr. Teh Hong Piow said, “The Public Bank Group delivered another strong set of results with a record pre-tax profit of RM1.25 billion and net profit of RM941 million for the first quarter of 2012.”
With effect from this year, the Group adopted fully the Malaysian Financial Reporting Standards (MFRS) 139, which resulted in a lower collective assessment allowances on the Group’s loans and financing. This resulted in a write-back of excess collective assessment allowances, leading to an increase in the Group’s shareholders’ funds as at the beginning of 2012 by RM859 million, which in turn enhanced the Group’s core equity
capital ratio by 0.5%.
Tan Sri Teh highlighted that, “As a result of the retrospective application of MFRS 139,comparative pre-tax profit and net profit for the corresponding quarter in 2011 have been restated upwards by RM75 million and RM56 million respectively to RM1.17 billion and RM884 million respectively. Against the restated profits for the previous corresponding quarter, the Group’s pre-tax profit and net profit growth for the first
quarter of 2012 are 6.2% and 6.4% respectively.
Excluding the impact of the higher restated profits in the previous corresponding quarter, the Public Bank Group’s pre-tax profit and net profit for the first quarter of 2012 would have shown a higher growth of 13.5% and 13.7% respectively.
Despite the higher restated shareholders’ equity base, the Group continued to lead in terms of having the highest net return on equity of 24.7% amongst the Malaysian banking groups. The Group also maintained its top ranking in asset quality and cost efficiency in the banking industry with notably lower gross impaired loan ratio of 0.8% and cost-to-income ratio of 31.8% for the first quarter of 2012.”
The Public Bank Group’s balance sheet growth indicators remained healthy. In the first quarter of 2012, the Group’s gross loans grew by RM4.2 billion, or 2.4% to reach RM 181.9 billion as at the end of March 2012. Domestic loan book grew at a faster pace of 3.1%. The Group’s customer deposits grew by 3.4% to reach RM207.1 billion as at the end of March 2012, while domestic customer deposits grew at a stronger rate of 3.6%. “On an annualised basis, both domestic loans and domestic customer deposits recorded healthy double-digit growth of 12.3% and 14.5% respectively.” said Tan Sri Teh.
Capital Position Remained Healthy
The Public Bank Group’s capital position remained healthy, with its Tier 1 capital ratio and risk-weighted capital ratio standing at 10.3% and 14.4% respectively as at the end of March 2012. Tan Sri Teh commented, “The Group will continue to be proactive in maintaining a healthy level of capital at all times to support the Group’s business growth strategies whilst maximising its shareholder return.”
Group’s Prospect
Tan Sri Teh remarked that, “Along with the expectation that the Malaysian economy will grow by 4% to 5% in 2012, the Public Bank Group continues to strive in a healthy domestic operating environment due to the stable financial system, favourable employment conditions, sustained consumer and business sentiment as well as the accommodative monetary policy environment promoted by Bank Negara Malaysia.
The Group will continue to focus on its core retail banking and financing business whilst maintaining its prudent credit policies, and further improve on its cost efficiency. The Group remains steadfast in its commitment to upholding strong corporate governance and implementation of sound risk management policies to support longterm growth.
Zhulian net profit for the FY12Q1 rose 29.2%
KUALA LUMPUR (April 12): Zhulian Corpoartion Bhd net profit for the first quarter ended Feb 29, 2012 rose 29.2% to RM28.39 million from RM21.98 million a year earlier, due mainly to the increase in revenue and share of profit of oversea operation.
It said on Thursday that its revenue for the quarter rose 30% to RM111.88 million from RM86.22 million in 2011, as overall, the export sales increased by 42%, due mainly to Thailand whilst the local sales increased by 18%, mainly contributed by high demand for the food & beverage and nutritional products.
Earnings per share was 6.17 sen while net assets per share was 85. 29 sen.
It said on Thursday that its revenue for the quarter rose 30% to RM111.88 million from RM86.22 million in 2011, as overall, the export sales increased by 42%, due mainly to Thailand whilst the local sales increased by 18%, mainly contributed by high demand for the food & beverage and nutritional products.
Earnings per share was 6.17 sen while net assets per share was 85. 29 sen.
LPI FY12Q1 net profit lower due to higher claims
PETALING JAYA: LPI Capital Bhd recorded 18.51% decrease in net profit to RM31.5mil for its first quarter ended March 31 compared with RM38.6mil in the corresponding quarter due to higher claims.
The insurer, however, posted a 15.3% increase in revenue to RM246.061mil compared with RM213.328mil in the corresponding quarter last year.
The growth in revenue was contributed mainly by the general insurance segment, which grew 18.6% to RM230mil over the corresponding quarter in 2011.
Teh: ‘Our disciplined approach in risk selection and management allowed us to make controlled progress in executing our business plan for 2012.’
The increase was mainly contributed by higher gross earned premium for the quarter, which was in line with the strategic planning and business efforts of the group in growing the profitable insurance business.
Chairman Tan Sri Teh Hong Piow said the drop in profit was mainly due to the high frequency of catastrophic losses, and the unprecedented increased number of fire and motor claims, timing differences in accounting for the enlarged gross premium income through the provision of unearned premium reserves, and reduced investment income received.
“The unearned premium reserves as at March 31 stood at RM363.6mil rising by a whopping 15%.
“These extraordinary events have impacted our earnings adversely. Nevertheless, our disciplined approach in risk selection and management allowed us to make controlled progress in executing our business plan for 2012.
“With improved market recognition, our business units are in an excellent position to implement their respective growth strategies as reflected in the increased premium income for the first quarter of the year. Premium written for our core business has grown,” he said in a statement yesterday.
In an announcement to Bursa Malaysia, the group said that it was confident of increasing its market share and maintaining favourable growth.
It was also confident that it would maintain its earnings momentum and deliver satisfactory performance going forward.
“The challenges facing the global developed economies remained unabated and this has a negative effect on our market environment.
“We will continue to execute our business plan with a steadfast caution and agility.
“Our commitment to upholding strong corporate governance and create long-term shareholder value through unremitting growth and profitable results remains undiminished.
“The group is therefore confident that it would record better performance for the next quarter of the year,” Teh said. From: The Star Business
Ta Ann registers strong results backed by continuing demand for its timber and plantation divisions
KUCHING: Ta Ann Holdings Bhd (Ta Ann) has seen a good year in both its plantation and timber division, recording core net profit of RM166 million for the financial year 2011.
“Excluding the total provisioning of RM13 million for asset impairment, Ta Ann’s financial year 2011 core net profit is exactly the same with our estimate but was four per cent above the consensus at RM159 million,” Kenanga Investment Bank Bhd (Kenanga Research) noted in a research report.
The report attributed the strong financial year 2011 to the higher crude palm oil prices (CPO) of RM3,348 per metric tonne and stronger fresh fruit bunch (FFB) production of 456,000 metric tonne – a 25 per cent and 47 per cent increase year-on-year (y-o-y) respectively. It had assumed 30 per cent FFB growth in financial year 2012 estimates as its young oil palm trees mature.
The research house noted that this was in line with management expectation of 25 to 30 per cent FFB growth. “Beyond financial year 2012, FFB growth should be sustained at a double digit growth rate for at least another three years as its average oil palm tree age is only 4.8 years old as compared to peak production age of 10 to 12 years old,” the research house explained.
Kenanga Research observed that the plantation division enjoyed another strong pre tax profit growth of 106 per cent y-o-y to RM167 million, which reinforced its view that Ta Ann would eventually be categorised as a plantation company.
“The company’s timber division has also seen its pretax profit jump 209 per cent y-o-y to RM51 million on the back of better average selling price for export logs and plywood,” the report explained.
However, as the research house expected softer average selling price for export logs and plywood in financial year 2012, it lowered its estimated pretax profit for the year to RM34 million. AmResearch Sdn Bhd (AmResearch) noted in its report that Ta Ann declared a second interim dividend of 10 sen per share, bringing the total for the full year to 20 sen per share. The research house had since adjusted its forecast annual gross dividend upwards accordingly, to 20 sen per share.
“We understand that the RM9.7 million impairment was made with regards to its property, plant and equipment in Tasmania, given the continuing losses of the operations there,” the report noted as it also highlighted a loss after tax of RM14 million for the plywood division, inclusive of the impairment. It went on to maintain its forecasts as it had already assumed a financial year 2011 pretax loss of RM5 million for the plywood division excluding the impairment and further annual losses of between RM10 million and RM 13 million for financial year 2012 to 2014 forecasts.
Posted on March 1, 2012, Thursday
“Excluding the total provisioning of RM13 million for asset impairment, Ta Ann’s financial year 2011 core net profit is exactly the same with our estimate but was four per cent above the consensus at RM159 million,” Kenanga Investment Bank Bhd (Kenanga Research) noted in a research report.
The report attributed the strong financial year 2011 to the higher crude palm oil prices (CPO) of RM3,348 per metric tonne and stronger fresh fruit bunch (FFB) production of 456,000 metric tonne – a 25 per cent and 47 per cent increase year-on-year (y-o-y) respectively. It had assumed 30 per cent FFB growth in financial year 2012 estimates as its young oil palm trees mature.
The research house noted that this was in line with management expectation of 25 to 30 per cent FFB growth. “Beyond financial year 2012, FFB growth should be sustained at a double digit growth rate for at least another three years as its average oil palm tree age is only 4.8 years old as compared to peak production age of 10 to 12 years old,” the research house explained.
Kenanga Research observed that the plantation division enjoyed another strong pre tax profit growth of 106 per cent y-o-y to RM167 million, which reinforced its view that Ta Ann would eventually be categorised as a plantation company.
“The company’s timber division has also seen its pretax profit jump 209 per cent y-o-y to RM51 million on the back of better average selling price for export logs and plywood,” the report explained.
However, as the research house expected softer average selling price for export logs and plywood in financial year 2012, it lowered its estimated pretax profit for the year to RM34 million. AmResearch Sdn Bhd (AmResearch) noted in its report that Ta Ann declared a second interim dividend of 10 sen per share, bringing the total for the full year to 20 sen per share. The research house had since adjusted its forecast annual gross dividend upwards accordingly, to 20 sen per share.
“We understand that the RM9.7 million impairment was made with regards to its property, plant and equipment in Tasmania, given the continuing losses of the operations there,” the report noted as it also highlighted a loss after tax of RM14 million for the plywood division, inclusive of the impairment. It went on to maintain its forecasts as it had already assumed a financial year 2011 pretax loss of RM5 million for the plywood division excluding the impairment and further annual losses of between RM10 million and RM 13 million for financial year 2012 to 2014 forecasts.
Posted on March 1, 2012, Thursday
Mah Sing notches RM2.26b property sales for last year
KUALA LUMPUR: Lifestyle developer Mah Sing Group Bhd has reported a RM168.6 million net profit on the back of RM1.6 billion revenue for its financial year 2011.This represents 43 per cent and 41 per cent increases respectively against the net profit and revenue achieved in 2010.
Property development projects that contributed to Mah Sing's revenue and profit during the year under review included Garden Residence in Cyberjaya, Kinrara Residence in Puchong, Perdana Residence 2 in Selayang, M-Suites in Jalan Ampang, One Legenda, Hijauan Residence and Bayu Sekamat in Cheras, and Icon Residence in Mont' Kiara.
The group closed 2011 with some RM2.26 billion locked in property sales, surpassing the previous year's full sales target of RM2 billion. Group managing director and chief executive officer Tan Sri Leong Hoy Kum said the 2011 financial performance marks a new record high and represents more than 46 per cent improvement from the RM1.55 billion achieved in 2010.
As for this year, Leong said the group is on track to meet its sales target of RM2.5 billion. "We achieved about RM338 million as at February 15," he said in a statement. Meanwhile, Mah Sing also intends to roll out at least RM3 billion worth of property launches this year to achieve its sales target.
Leong said the greater Kuala Lumpur projects are expected to make up the bulk (68 per cent) of the launch targets, while Penang and Johor Baru are expected to contribute 20 per cent and 12 per cent respectively. "We have a clear focus on residential projects this year, and our high-rise and landed residential projects make up 75 per cent of our launch targets. "Commercial projects are expected to be a strong contributor, at 22 per cent of launch targets, and industrial projects to make up the balance 3 per cent," he said.
Leong said close to 70 per cent of Mah Sing's launches will come from products with an average unit price of RM1 million and below, in view of the current market sentiment and pent-up demand in this segment. Launches planned for this year include new and existing residential projects such as Kinrara Residence, Garden Residence 2 in Cyberjaya, Garden Plaza in Cyberjaya, M-City in Jalan Ampang, Icon Residence in Georgetown.
Maxis 2011 Q4 net profit jumps to RM900m
Revenue fell marginally to RM2.26 billion from RM2.31 billion in the previous corresponding period.
Maxis expects the operating environment for 2012 to remain competitive and challenging. The fourth quarter results pushed Maxis’ full-year net profit to over RM2.52 billion or 10.10 per cent more than the year before.
“A continuing focus on operational efficiency saw Maxis delivering its customary industry-leading earnings before interest, tax, depreciation and amortisation (Ebitda) margin at 50.3 per cent, putting it among the best performing telcos globally,” the company said in a press release.
Ebitda grew by 0.2 per cent to RM4.42 billion from RM4.41 billion in 2010. Revenu e for the full year was RM8.80 billion versus RM8.86 billion previously despite having scaled down the low margin hubbing business which is a part of its International Gateway (IGW) services.
Overall, Maxis results were within analysts’ estimates, according to Bloomberg data. Maxis also declared a fourth interim singletier tax exempt dividend of 8 sen per share and is proposing a final single-tier tax exempt dividend of 8 sen per for 2011.
This brings the total dividend to RM3 billion or 40 sen per ordinary share for last year. As at end-2011, Maxis has the industry’s largest subscription base at 14 million.
Revenue was mainly driven by mobile Internet usage, content subscription and stronger wireless broadband revenue from a higher subscription base.
For its outlook for 2012, chief executive officer Sandip Das said Maxis will focus quite substantially on growing its revenue that it hopes would result in a stronger Ebitda.
"More importantly, we want to see new revenue streams coming in this year. We are very excited about turning in a stronger financial performance this year," he said at a media briefing on the company's results.
Revenue growth, he said, is expected to come from the rising demand for data from wireless broadband, Internet access and other non-voice services on the back of lower voice segment growth.
Last year, the non-voice segment grew an impressive 17 per cent and made up 43.5 per cent of Maxis' total mobile services revenue.
Sandip said the company is strengthening grip on future revenues, justifying its continued investment in the past two to three years in data infrastructure and partnerships.
He said Maxis is expecting the government to grant the 4G LTE (fourth generation long-term evolution) technology very soon, adding that the company could spend close to RM1 billion over the next two to three years on the 4G LTE alone if it takes off.
