Business

IJM’s FY15 pre-tax profit decreases to RM1 billion

IJM Corp Bhd's pre-tax profit for the financial year ended March 31, 2015 slipped 28% to RM1.02 billion, compared with RM1.42 billion in the previous financial year.

Revenue declined 9.% to RM5.45 billion, from RM6.01 billion previously, the company said in a statement today.

The lower pre-tax profit was largely due to the preceding year's results, including a number of significant one-off recognitions attributable to its infrastructure and property divisions, while the lower revenue was mainly due to lower contribution from the construction division.

Ignoring these non-recurring transactions and unrealised forex fluctuations, IJM said its core pre-tax profit saw a mild decrease of 6.1% to RM1.03 billion, compared with RM1.10 billion in the previous year.

The company declared a single tier second interim dividend of 11 sen per share to be paid on July 9, 2015, bringing the total dividend declared for this financial year to 15 sen per share.

IJM Corp managing director and chief executive officer Datuk Soam Heng Choon said in the immediate term, the group’s financial performance would be underpinned by a healthy level of outstanding order book, unbilled sales, a
developing portfolio of concession assets, and fast maturing plantation acreage.

"The group is encouraged by the development spending identified under the 11th Malaysia Plan, and continues to see compelling growth opportunities across its core business divisions," he added.

At the same time, IJM also rewards shareholders with a one bonus share for every one existing IJM share, equivalent to a proposed bonus issue of up to 1.79 billion new ordinary shares of RM1 each.

The proposed bonus issue is expected to be completed by the third quarter of calendar year 2015. – Bernama, May 26, 2015.

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