KUALA LUMPUR, April 9, 2012 – Boustead Holdings Berhad intends to capitalise on the momentum garnered from the record results for the year ended 31 December 2011 while focusing on staying lean and mean in its business units that span key sectors of the economy.
The Group ended the year with a solid performance registering a record profit before tax of RM831 million for the full year compared with RM726 million recorded last year. This signified a 14% improvement on the back of a 38% increase in record turnover amounting to RM8.6 billion compared with its previous financial year’s RM6.2 billion.
The Group’s dividend payout net of tax for the year was 39 sen per share which represents a 6.7% yield based on the closing price for the year under review. The total dividend payout of RM375 million signifies a payout ratio of 94% of the Group’s attributable cash flow profit.
YBhg Tan Sri Dato’ Lodin Wok Kamaruddin, Deputy Chairman/Group Managing Director, Boustead Holdings Berhad, said, “At Boustead Group, we have made it a point to find a balance between maintaining a consistent and regular dividend payment that promotes a stable stream of return to shareholders while conserving funds vital to our long-term growth. This year’s commendable dividend payout is a demonstration of our commitment.”
“Almost all our Divisions have delivered over and above our expectations this year and leading the way for the Group has been our Plantation Division which has benefited from robust crude palm oil prices. The Plantation Division contributed a strong profit of RM299 million compared with RM183 million registered in the previous financial year. This was followed by the Property Division which recorded a profit of RM211 million. The Trading and Manufacturing Division recorded a profit of RM113 million, while the latest addition to the Group, the Pharmaceutical Division registered a profit of RM68 million. The Finance and Investment and Heavy Industries Divisions also contributed positively to the Group’s bottom line.”
“Pharmaniaga has indeed been a welcome addition to the Group’s Pharmaceutical Division. We are striving to ensure that Pharmaniaga remains listed on Bursa for the benefit of Malaysian shareholders. To date, we have been able increase the public shareholder spread of Pharmaniaga from a meagre 2% to 17% through our various initiatives.”
“During the year under review, we undertook a series of corporate initiatives that had a positive impact on our balance sheet and helped strengthen our businesses. We will continue to do so in 2012 when the need arises. Our efforts to grow our businesses in a sustainable manner have delivered results this financial year and we hope to continue this momentum while being mindful of our earnings visibility as we move into 2012.” concluded YBhg Tan Sri Dato’ 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 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 2011, Boustead Holdings Berhad’s paid-up capital was RM470 million, while its shareholders’ funds stood at RM4.5 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.
Boustead Heavy Industries Corporation Berhad is a subsidiary of Boustead Holdings Berhad, a conglomerate listed on the Main Board of Bursa Securities. Boustead Holdings Berhad is a subsidiary of the Armed Forces’ Funds (Lembaga Tabung Angkatan Tentera).
The Boustead Heavy Industries Group is involved in maritime, defence and heavy engineering activities, with shipyards located in Lumut, Pulau Pinang, Langkawi and Ghana.
Issued on behalf of: Boustead Holdings Berhad
By: acorn communications sdn bhd
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