IOI Corp's Q4 nets RM548m profit

KUALA LUMPUR: IOI Corp Bhd's (IOI Corp) fourth-quarter net profit was flat despite revenue having increased by 41.4 per cent. Its plantation and property segments contributed higher profit but its resource-based manufacturing segment operating profit was down 37.6 per cent.

The plantation firm's net profit for its final quarter ended June 30 was up 0.1 per cent to RM547.8 million compared with RM547.05 million a year ago.

The manufacturing segment reported an operating profit of RM84.6 million for last quarter compared with RM135.7 million a year ago due to lower sales as well as lower margins from oleochemicals and refineries.

Group revenue for the final three months surged 41.4 per cent in the quarter to RM4.3 billion from RM3.06 billion previously, IOI Corp said in its results announcement yesterday.

For the 12 months ended June 30, IOI Corp's net profit rose 9.2 per cent to RM2.22 billion from RM2.04 billion, while revenue increased 28.8 per cent to RM16.15 billion from RM12.54 billion.

Earnings per share were 8.54 sen compared with 8.57 sen, while net assets per share was RM1.87. The company declared a tax-exempt second interim single-tier dividend of 9 sen per 10 each, to be paid on October 7 this year.

On its current year prospects, IOI Corp said the global economic growth had recently shown signs of slowing down. This would make the new financial year a challenging period for business corporations. "The group is optimistic that it will perform satisfactorily in the new financial year," IOI Corp added.

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