DRB-Hicom’s pre-tax profit soars to RM1.52b in FY12
KUALA LUMPUR, May 29 – DRB-Hicom Bhd’s pre-tax profit for the financial year ended March 31, 2012 rose to RM1.52 billion from RM701.52 million previously.
Revenue for the year reviewed increased marginally to RM6.88 billion from RM6.80 billion a year ago.
Earnings per share rose to 66.88 sen from 24.44 sen before.
The increase in pre-tax profit was attributed to the recognition of negative goodwill of RM971.52 million arising from the acquisition of Proton Holdings Bhd.
Group Managing Director Datuk Seri Mohd Khamil Jamil said prospects for the group’s various businesses for the current financial year ending March 31, 2013 are expected to be positive.
This was on the back of the expected favourable domestic economic growth for this year of 4.0 per cent to 5.0 per cent and the group’s continuous pursuit of various cost management and strategic initiatives, he said. – Bernama