Boustead Surpasses Billion Ringgit Mark in FY17
PETALING JAYA, April 12, 2018 - Boustead Holdings Berhad (BHB) marked a significant milestone in 2017, surpassing RM1 billion in profit before tax, a first for the Group. BHB will continue to build on its strong foundation and diversified core businesses to ensure the sustainable growth of the Group.
For the financial year ended 31 December 2017, the Group registered a record-high profit before tax of RM1.1 billion and a profit after tax of RM923 million. This was achieved on the back of a turnover of RM10 billion. This exemplary performance was primarily attributable to gains realised from the disposal of plantation lands.
The Plantation Division was once again the key performer for the year, followed by the Trading & Industrial Division. The Heavy Industries, Finance & Investment, Property and Pharmaceutical Divisions also contributed positively to the Group in 2017.
In line with the Group’s commitment to delivering shareholder value, the Board declared total dividends of 11 sen per share for the financial year, with a total payout of RM223 million. This represents a dividend yield of 3.8% based on the closing price for the financial year.
YBhg Tan Sri Dato’ Seri Lodin Wok Kamaruddin, Deputy Chairman/Group Managing Director, Boustead Holdings Berhad, said, “We are heartened by this sterling performance, as this is indeed a high point in the Group’s history. We were able to achieve this as a result of solid organic growth coupled with the disposal of lands, as the opportunity to unlock the value of our land bank was timely.”
“The Group will continue to leverage on our strengths as a diversified conglomerate. Prospects are certainly encouraging and our core businesses are well-positioned to capitalise on opportunities across the various sectors in which we operate. In anticipation of a more challenging year ahead, we will strengthen our focus on improving cost efficiencies, as well as enhancing the effectiveness and governance of our core business operations.”
“We will strive to redouble our efforts to maintain our growth momentum and stay true to our commitment to deliver strong results,” 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 2017, Boustead Holdings Berhad’s paid-up capital was RM2.7 billion while its shareholders’ funds stood at RM5.9 billion. Market capitalisation is currently in the region of RM5.1 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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