MARKET DEVELOPMENT
Boustead's Q3 Pre-tax Profit Soars To RM159.20 Million
Boustead's Q3 Pre-tax Profit Soars To RM159.20 Million
30/11/2013 (Bernama) - Boustead Holdings Bhd's pre-tax for the third quarter ended Sept 30, 2013 increased to RM159.20 million from RM132.70 million recorded in the same quarter last year.
Revenue rose to RM2.70 billion, during the period under review, from RM2.51 billion registered in the corresponding period last year.
The company said the better results were derived from its property division, contributed mainly from the stronger operating results and the sale of a corporate lot in Mutiara Damansara.
"The division had performed satisfactorily despite the fact that crude palm oil prices have impacted earnings," said Deputy Chairman and Group Managing Director Tan Sri Lodin Wok Kamaruddin.
The plantation division recorded a profit of RM30 million, against a loss of RM15 million registered in the preceding quarter.
Looking forward, Lodin said the company would continue to undertake measures to ensure that it was able to deliver shareholder value by building on its various business streams and pursuing opportunities for organic growth.
Revenue rose to RM2.70 billion, during the period under review, from RM2.51 billion registered in the corresponding period last year.
The company said the better results were derived from its property division, contributed mainly from the stronger operating results and the sale of a corporate lot in Mutiara Damansara.
"The division had performed satisfactorily despite the fact that crude palm oil prices have impacted earnings," said Deputy Chairman and Group Managing Director Tan Sri Lodin Wok Kamaruddin.
The plantation division recorded a profit of RM30 million, against a loss of RM15 million registered in the preceding quarter.
Looking forward, Lodin said the company would continue to undertake measures to ensure that it was able to deliver shareholder value by building on its various business streams and pursuing opportunities for organic growth.