Boustead On Strong Footing for 2017
KUALA LUMPUR, April 6, 2017 – Boustead Holdings Berhad (BHB) continues to leverage on its solid foundation and diversified nature to drive sustainable growth. The Group remained resilient amidst tough headwinds in 2016, turning in a strong performance.
For the financial year ended 31 December 2016, the Group recorded improved results with a profit after tax of RM589 million, a fourfold increase from the previous year. The Group also marked a significant milestone with a profit before tax of RM740 million, the second highest since BHB’s establishment. Turnover for the year stood at RM8.4 billion.
The Property Division was once again the key performer for the year, closely followed by the Plantation Division. The Trading & Industrial and Finance & Investment Divisions also posted improved results. The Pharmaceutical Division performed satisfactorily, while the Heavy Industries Division recorded a deficit for the year.
In line with the Group’s commitment to shareholder value, the Board declared total dividends of 17.5 sen per share for the year. This represents a 6.6% yield based on the closing price for the year and a total payout of RM305 million.
YBhg Tan Sri Dato’ Seri Lodin Wok Kamaruddin, Deputy Chairman/Group Managing Director, Boustead Holdings Berhad, said, “We are pleased to have delivered commendable results for the year, despite challenging market conditions. We maintained our focus on improving efficiencies in order to strengthen our bottom line, and our performance was further supported by gains from divestment of an associate company and disposal of lands.”
“As we forge ahead in 2017, we aim to reinforce our foundation by tapping on our diversified core businesses. In tandem with this, we will continue to fine-tune our business strategies to weather through the challenging environment.”
“Given our strong track record, we are confident that we will be able to unlock further value across our Divisions and deliver sustained earnings moving forward,” concluded YBhg Tan Sri Dato’ Seri Lodin.
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 subsidiaries, associate companies and joint ventures, 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 & industrial and pharmaceutical. As at 31 December 2016, Boustead Holdings Berhad’s paid-up capital was RM1.01 billion while its shareholders’ funds stood at RM5.7 billion. Market capitalisation is currently in excess of RM5.6 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: Boustead Holdings Berhad
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