F&N, MEDIA, WPRTS,
Frasers & Neave Records RM259m Earnings In FY14
For the fourth quarter ended 30 September, Fraser & Neave Holdings reported a 22.3 percent fall in net profit to RM62.2 million, despite a 7.5 percent increase in revenue to RM964.5 million. The shortfall in earnings was due to the absence of RM31 million in insurance claims that were recognised in 4Q13.
Excluding the insurance claim, profit before tax for the quarter rose RM19.2 million, due to improved contributions from the soft drinks and dairies Thailand segments, partially offset by lower profit contribution from dairies Malaysia.
For the financial year ended 30 September, the group recorded an 8.9 percent growth in top line to RM3.8 billion, while bottom line remained relatively unchanged at RM259.4 million, despite the absence of RM49.3 million in total insurance claims recognised in FY13.
Significance: A final dividend of RM0.33 per share has been declared and the firm noted that it will focus on strengthening and widening sales distribution networks and trade presence along with effective execution of trade promotions and campaign activations.
Media Prima 3Q14 Earnings Fall 34%
For the third quarter ended 30 September, Media Prima reported a 33.6 percent contraction in net profit to RM42.2 million, as revenue declined 13.6 percent to RM379.6 million. The group has cited challenging market conditions for the weaker performance.
Market uncertainties, weaker consumer sentiments and the tragedies involving flights MH370 and MH17 had resulted in advertisers being more cautious over advertisements placed during this period.
Top and bottom lines for the nine-month period eased 11.7 percent and 30.3 percent to RM1.1 billion and RM105 million respectively. The firm noted that the higher revenue in 9M13 was attributable to the contribution from non-traditional advertisers.
Significance: Media Prima has declared an interim dividend of RM0.03 per share and said that it will continue to remain resilient despite it being a challenging period. The group said it will focus on the execution of its key strategy on advertising growth in the remaining period of the financial year as advertising expenditure is expected to take up near the end of the year based on past trends.
Westports Plans RM1b For New Container Terminal
Westports Holdings has earmarked RM1 billion over the next three years from 2015 to 2017, for its container terminal 8 (CT8) expansion plan as it gears up for increasing volume and higher utilisation rate.
The capital expenditure for 2015, the first year of the CT8 expansion, would be about RM400 million. The expansion plan will be funded via a combination of internally generated fund and drawdown of Sukuk.
The group recorded a 12 percent surge in its container volume throughput to 6.2 million twenty-foot equivalent units (TEUs) in the first nine months of 2014, noting that terminal utilisation, the yardstick in measuring the usage of a terminal, has increased significantly due to the better-than-expected container volume.
Significance: The expansion, which will be carried out in two phases, is expected to start in early 2015, with phase one, which consists of a 300-metre wharf and supporting port equipment and facilities, is expected to be completed by 2016. Upon being fully operational in mid-2017, the group’s container-handling capacity will increase from 11 million TEUs to 13.8 million TEUs. - Shares Investment
