Boustead’s Prospects For 2013 Remains Strong
KUALA LUMPUR, April 8, 2013 – Having completed a challenging year in FY2012, Boustead Holdings Berhad (Boustead) expects to strengthen its resolve and build on its strong foundation in the coming year.
For the year ended 31 December 2012, the Group delivered a profit after tax of RM518 million while profit before tax was RM619 million. This was on the back of strong top line growth of RM10.2 billion.
YBhg Tan Sri Dato’ Seri Lodin Wok Kamaruddin, Deputy Chairman/Group Managing Director, Boustead Holdings Berhad said, “In 2012, almost all our Divisions and business units performed well. Despite the impact on crude palm oil prices, the Plantation Division remained our highest contributor delivering a profit of RM206 million. This was followed by the Property Division which recorded a profit of RM161 million while the Trading and Manufacturing Division delivered a profit of RM159 million. The Group’s Finance and Investment as well as Pharmaceutical Divisions delivered a profit of RM110 million and RM80 million respectively.”
“As we look to 2013, we are confident that our Divisions will work harder to improve on their performance albeit tough external economic conditions. Our focus will be organic growth at this juncture in time, as we believe there is sufficient upside to improve operational efficiencies, strengthen productivity and review cost structures,” he concluded.
Since its inception as a modest trading entity more than 180 years ago, the Boustead Group has grown by leaps and bounds to comprise more than 90 subsidiary and associate companies, and has substantial interests in various sectors of the Malaysian economy. The Boustead Group's operations are focused in six key areas; plantation, heavy industries, property, finance & investment, trading & manufacturing and pharmaceutical. As at 31 December 2012, Boustead Holdings Berhad’s paid-up capital was RM517 million while its shareholders’ funds stood at RM4.66 billion. Market capitalisation is currently in excess of RM5 billion.
Forward looking statements
This release may contain certain forward-looking statements with respect to the financial conditions, results of operations and business of the Group and certain plans and objectives of Boustead Holdings Berhad with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
on behalf of: Al-Hadharah Boustead REIT
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