KUALA LUMPUR: KULIM (M) BHD [] net profit for the second quarter ended June 30, 2011 surged nine-fold to RM146.29 million from RM14.66 million a year earlier, driven by mainly by higher revenue and profits from its PLANTATION [] division.
In it said on Friday, Aug 26 that revenue for the period rose 32.4% to RM1.80 billion from RM1.36 billion, with higher contribution from all segments.
Earnings per share was 11.70 sen compared to 4.69 sen, while net assets per share was RM3.03.
For the six months ended June 30, Kulim's net profit surged to RM273.39 million from RM76.55 million in 2010, on the back of a 33.3% jump in revenue to RM3.46 billion from RM2.59 billion.
Reviewing its performance, Kulim said the oil palm sector recorded higher revenue and profits for the cumulative quarters due to better palm products prices and higher FFB production.
The higher revenue at the foods and restaurant group was due mainly to the better contributions from its KFC operations in Malaysia and its Singapore's Pizza Hut operations, it said.
On its prospects, Kulim said that although palm prices had fallen by almost 8%, the remaining quarters, are nonetheless, expected to perform well due to the forecasted improved FFB production during the period.
On its Papua New Guinea and Solomon Island operations, Kulim said NBPOL appeared to be increasing in production and higher prices of palm products indicate results for the remaining quarters of the current financial year to be better than the current quarter.
It said the foods and restaurants division was taking several initiatives to develop and introduce new products with value propositions in mind to drive transactions at the group's operating network.
Kulim said it would continue to implement its plan of increasing revenue and profitability by enhancing customer experience, increasing the restaurants network, expanding business activities, developing better cost efficiencies and improving productivity at all its restaurants, manufacturing and production facilities.
The shipping business had registered much improvement as all the vessels ordered have been progressively delivered to the oil majors on term charter which are currently operating smoothly, it said.
'Based on the above generally positive outlook, the board is confident that 2011 will be another good year for the group,' said Kulim.
Woah, the business sectors for Kulum is quite diversified. KFC is one of the Malaysian most favorable fast food. No wonder this stock grown quite steady :)
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
MQ Trader 102 views | 8 h ago
0:17
New IPO: An enterprise IT solutions provider that provides implementation services, maintenance, support and professional services, Vetece Holdings Bhd aims to list on the Ace Market!
MQ Trader 376 views | 4 d ago
0:17
New IPO: A manufacturing and trading of biomass fuel products, particularly PKS and wood pellets company, Elridge Energy Holdings Bhd aims to list on the Ace Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
chong_jet
Woah, the business sectors for Kulum is quite diversified. KFC is one of the Malaysian most favorable fast food. No wonder this stock grown quite steady :)
2011-09-06 10:34