MARKET DEVELOPMENT
CB Industrial 2015 Pre-tax Profit Up 29 Pct To RM139.59 Mln
CB Industrial 2015 Pre-tax Profit Up 29 Pct To RM139.59 Mln
25/02/2016 (Bernama) - CB Industrial Product Holding Bhd reported a 29 per cent increase in pre-tax profit to RM139.59 million for the financial year ended Dec 31, 2015 from RM108.45 million in 2014.
The profit was achieved over an eight per cent drop in revenue to RM554.09 million against RM600.89 million previously, mainly due to lower project billing by its special purpose vehicles and palm oil equipment segments.
Earnings per share, however, rose to 17.82 sen from 17.17 sen, the group said in a filing to Bursa Malaysia.
Despite the lower revenue, the group said, the palm oil mill equipment segment reported a 24 per cent increase in pre-tax profit over the previous financial year, due to improvement in profit margin resulting from favourable foreign exchange rates and higher project implementation.
Profit for the special purpose vehicles segment rose by 24 per cent due to improved project management and delivery, it said.
The group said it expects to achieve satisfactory results this year, driven by both segments in view of the progress in implementation of projects secured in hand and the current challenging environment.
The profit was achieved over an eight per cent drop in revenue to RM554.09 million against RM600.89 million previously, mainly due to lower project billing by its special purpose vehicles and palm oil equipment segments.
Earnings per share, however, rose to 17.82 sen from 17.17 sen, the group said in a filing to Bursa Malaysia.
Despite the lower revenue, the group said, the palm oil mill equipment segment reported a 24 per cent increase in pre-tax profit over the previous financial year, due to improvement in profit margin resulting from favourable foreign exchange rates and higher project implementation.
Profit for the special purpose vehicles segment rose by 24 per cent due to improved project management and delivery, it said.
The group said it expects to achieve satisfactory results this year, driven by both segments in view of the progress in implementation of projects secured in hand and the current challenging environment.