Ayer Holdings proposes 20 sen dividend for FY2022 on seven-year high profit

KUALA LUMPUR (April 5): Ayer Holdings Bhd, formerly known as TAHPS Group Bhd, has proposed a dividend of 20 sen per share for the financial year ended Dec 31, 2022 (FY2022), the highest by the group since FY2015, when it paid a dividend of 32 sen.

“The proposed entitlement and payment dates for the first and final dividend shall be determined at a later date,” the plantation and property group said in a local bourse filing on Wednesday (April 5).

Ayer on Feb 28 reported a net profit of RM35.14 million for FY2022, the highest since the RM43.93 million net profit reported for FY2015, on revenue of RM106.99 million.

The FY2022 net profit was double the RM17.57 million reported for the previous year, while revenue was up 40.88%, compared with RM75.95 million for FY2021.

The group had said that its property segment's profit before tax increased 326% year-on-year to RM29.1 million for FY2022, due to higher revenue, on the back of higher construction progress.

The plantation segment also saw its profit before taxation inch up 4% to RM19.8 million, as a result of higher average selling prices of fresh fruit bunches (FFB) and higher FFB output.

Stepping into 2023, Ayer said it expects to face continued challenges from the external environment, such as geopolitical tensions, inflationary pressures, rising interest rates, crude palm oil price fluctuations and moderate economic growth.

Ayer settled 20 sen or 2.86% higher at RM7.20 a share on Wednesday, bringing the group a market capitalisation of RM538.94 million.