MARKET DEVELOPMENT
CB Industrial Q4 Earnings up 57.6% to RM38.7Mil
CB Industrial Q4 Earnings up 57.6% to RM38.7Mil
26/02/2014 (The Star) - Plantation and palm oil equipment specialist, CB Industrial Product Holding Bhd saw its earnings for the fourth quarter ended Dec 31, 2013 surge 57.6% year-on-year to RM38.7mil from RM24.5mil.
This was achieved on revenue that was flattish, up just 1.3% to RM150mil from RM148mil.
Profit before tax (PBT) in the quarter was up 138.4% to RM55mil from RM23mil, and earnings per share climbed to 14.57 sen from 9.15 sen.
No dividend was declared.
Earnings for the full year was RM98.2mil, a 59% tumble from RM239.6mil in the previous year. This was mainly because there was a one-off gain in FY12 of RM148.37mil from the disposal of subsidiaries.
Revenue for the whole year improved 11.1% to RM579.8mil from RM521.7mil, with profit before tax registering RM127.8mil from RM102.2mil – a 25% improvement.
EPS was down to 37 sen from 89.38 sen in the previous year.
CB Industrial said the increase in revenue and PBT for FY13 of 11.1% and 25% were mainly due to improvements in the palm oil equipment and the special purposes vehicles retrofitting segments. There were also gains on foreign exchange.
It said it expected satisfactory results for the new financial year, thanks to the positive outlook from the palm oil mill equipment and special purpose vehicles segments.
This was achieved on revenue that was flattish, up just 1.3% to RM150mil from RM148mil.
Profit before tax (PBT) in the quarter was up 138.4% to RM55mil from RM23mil, and earnings per share climbed to 14.57 sen from 9.15 sen.
No dividend was declared.
Earnings for the full year was RM98.2mil, a 59% tumble from RM239.6mil in the previous year. This was mainly because there was a one-off gain in FY12 of RM148.37mil from the disposal of subsidiaries.
Revenue for the whole year improved 11.1% to RM579.8mil from RM521.7mil, with profit before tax registering RM127.8mil from RM102.2mil – a 25% improvement.
EPS was down to 37 sen from 89.38 sen in the previous year.
CB Industrial said the increase in revenue and PBT for FY13 of 11.1% and 25% were mainly due to improvements in the palm oil equipment and the special purposes vehicles retrofitting segments. There were also gains on foreign exchange.
It said it expected satisfactory results for the new financial year, thanks to the positive outlook from the palm oil mill equipment and special purpose vehicles segments.