Business

Boustead Holdings pre-tax profit down to RM141m in Q3

KUALA LUMPUR, Nov 20 – Boustead Holdings Bhd’s pre-tax profit dwindled to RM141 million in the third quarter ended Sept 30, 2012 from RM167 million in the same quarter last year.

Its revenue however rose to RM2.6 billion from RM2.2 billion in the same quarter, the group said in a filing to Bursa Malaysia today.

For the third quarter under review, earnings per share was 7.5 sen compared with 4.2 sen for the previous quarter and the group’s net asset per share was RM4.46 as at Sept 30, 2012, the company said.

Boustead Holdings Deputy Chairman and Group Managing Director Tan Sri Lodin Wok Kamaruddin said the group was pleased with the third quarter results which showed improvements driven by the Plantation Division.

He said the division delivered RM162 million profit for the nine-month period compared with RM267 million last year.

On prospects, Lodin said the group was aware of the fact that external economic conditions could have an impact on its earnings.

“Nevertheless, we’ve performed satisfactorily this quarter and hope to maintain this momentum albeit with cautious optimism,” he added. – Bernama

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