KUALA LUMPUR (Feb 28): Based on corporate announcements and newsflow today, stocks in focus tomorrow (Wednesday, Mar 1) may include: CIMB Group, FGV, Mah Sing, Press Metal, Malaysia Airports, Nestle, Boustead, Shell, Bumi Armada, Dutch Lady, Litrak and Muhibbah.
CIMB Group Holdings Bhd's net profit for the fourth quarter ended Dec 31, 2016 (4QFY16) increased 3.5% to RM854.39 million, from RM825.74 million a year ago, on improved net interest income.
Revenue grew 6.7% to RM4.31 billion from RM4.04 billion in 4QFY15.
The group declared a second interim dividend of 12 sen per share, bringing its total FY16 payout to 20 sen.
For its full year, it posted a 25% increase in net profit to RM3.56 billion from RM2.85 billion in FY15. Revenue rose 4.3% to RM16.07 billion from RM15.40 billion in FY15.
Felda Global Ventures Holdings Bhd (FGV) reported a 21% drop in fourth quarter net profit at RM110.6 million, from RM140.7 million a year earlier, mainly on the plantation group's significantly higher taxes.
Full-year net profit also fell on lower crude palm oil output, higher raw sugar cost and oil palm impairment losses, FGV told Bursa Malaysia today.
Full year net profit fell to RM29.61 million from RM188.79 million in FY15. Revenue however climbed to RM17.28 billion from RM15.56 billion.
Meanwhile, the group will be closing down four oil mills, two rubber processing plants and one palm oil refinery that will generate annual cost savings of about RM13.5 million, according to its group president and chief executive officer Datuk Zakaria Arshad.
This will result in 600 staff being terminated via a mutual separation scheme.
Mah Sing Group Bhd's net profit for the fourth quarter ended Dec 31, 2016 (4QFY16) dropped 24% to RM85.61 million, from RM112.89 million a year ago, mainly due to lower contribution from its M City development in Jalan Ampang and Icon City in Petaling Jaya that were at the tail end of development in 2016.
Revenue dropped 4% to RM742.18 million from RM773.14 million in 4QFY15.
For its full year, Mah Sing made a net profit of RM361.36 million, which is 6.5% lower from RM386.68 million in FY15. Revenue came in 4.9% lower at RM2.96 billion, versus RM3.11 billion in FY15.
The group proposed a final dividend of 6.5 sen per share.
Press Metal Bhd is looking to grow its output by an additional 20% this year to 760,000 tonnes, from 620,000 tonnes in 2016, a target based on the assumption of full capacity from its existing plants.
It is also targeting for value added products growth to 50%, from 20% currently, said its CEO Datuk Paul Koon P K after the group's EGM.
The group has allocated an additional capex with a ballpark figure of RM100 million, in order to double its billet production in Sarawak.
The smelter obtained shareholder approval today for its proposed internal reorganisation of Press Metal, which would see Press Metal Aluminum Sdn Bhd assume Press Metal's listing status.
Malaysia Airports Holdings Bhd reported a fourth quarter net profit of RM33.32 million from a net loss of RM39.84 million a year earlier as its Malaysian operations recorded higher income.
The group revenue for the quarter rose to RM1.08 billion from RM1.04 billion previously.
"The increase in airport operations revenue in Malaysia was mainly attributed to the increase in aeronautical revenue. Aeronautical revenue increased by 7.6% or RM29.2 million (Q4 2016: RM412.9 million; Q4 2015: RM383.7 million)," it said
For the full-year, Malaysia Airports said net profit rose to RM70.39 million from RM40.9 million in FY15 while revenue climbed to RM4.17 billion from RM3.87 billion.
The group proposed a final single-tier dividend of six sen a share for the year.
Nestle (Malaysia) Bhd's revenue for the year ended Dec 31, 2016 (FY16) breached RM5 billion for the first time, representing a 5% growth from RM4.84 billion in FY15.
Nestle's net profit for FY16 grew 8% to RM637.13 million, from RM590.73 million in FY15.
For the fourth quarter of FY16, however, net profit dropped 33% to RM66.94 million or 28.55 sen per share, from RM99.79 million or 42.55 sen per share in 4QFY15.
Revenue for the fourth quarter climbed 4% to RM1.25 billion, from RM1.2 billion in 4QFY15.
The group said stronger domestic and export sales during the period had contributed to the growth in revenue. However, it said the increase in price of some commodities and further weakening of the ringgit had resulted in the fall in profitability.
The group announced a final dividend of RM1.30 per share for FY16.
Boustead Holdings Bhd's net profit for the fourth quarter ended Dec 31, 2016 (4QFY16) swelled by 28 times to RM120.7 million or 5.95 sen per share, from RM4.2 million or 0.26 sen per share a year ago, due mainly to a reduction in operating costs.
Operating costs fell 7.58% to RM2.25 billion from RM2.43 billion in 4QFY15, resulting in stronger profitability despite a marginal 0.82% drop in revenue to RM2.42 billion from RM2.44 billion.
The diversified group declared a fourth interim dividend of 3.5 sen per share, payable on March 28. This brings the total payout for FY16 to 17.5 sen.
Its full year net profit saw a 28-fold rise to RM369 million from RM13.2 million in FY15 despite a lower revenue of 3.36% to RM8.37 billion from RM8.66 billion.
Shell Refining Company (Federation of Malaya) Bhd posted a 115% rise in net profit to RM207.8 million for the fourth quarter ended Dec 31, 2016 (4QFY16), from RM96.5 million a year earlier, due mainly to the gradual recovery of the prices of crude oil and other products.
Revenue grew 7.4% to RM2.53 billion from RM2.36 billion in 4QFY15.
Shell said its full year net profit dipped 4.7% to RM335.3 million from RM351.8 million in FY15 as the gross profit margins were offset by a higher depreciation cost. Revenue for FY16 dropped 7.9% to RM8.37 billion from RM9.08 billion in FY15 due mainly to lower product prices, which are driven by market forces.
A whopping impairment charge of RM1.15 billion resulted in Bumi Armada Bhd's net profit for the fourth quarter ended Dec 31, 2016 (4QFY16) widening to RM1.29 billion, from RM85.08 million a year earlier.
Revenue fell 65% to RM205.45 million from RM589.04 million in 4QFY15.
For the full-year, the group plunged deeper into the red with a net loss of RM1.89 billion from RM234.57 million in FY15, while revenue shrank 35% to RM1.42 billion from RM2.18 billion.
Dutch Lady Milk Industries Bhd's net profit for the fourth quarter ended Dec 31, 2016 (4QFY16) jumped 49.9% to RM37.8 million from RM25.2 million, mainly driven by a favourable impact of revaluation of derivatives.
Revenue edged higher by 0.28% to RM271.7 million from RM270.9 million in 4QFY15.
For the full financial year, net profit grew 5.74% to RM149.1 million from RM141 million in FY15. Revenue rose 4.6% to RM1.05 billion from RM1 billion in FY15.
The group attributed this to improved margins amid continuous investment behind Dutch Lady's brand and investments made for a system upgrade.
The group declared an interim dividend of 50 sen per share and a special interim dividend of 60 sen per share.
Lingkaran Trans Kota Holdings Bhd (Litrak)'s net profit for the third quarter ended Dec 31, 2016 (3QFY17) rose 40% to RM51.34 million from RM36.76 million a year ago.
Revenue increased 45% to RM134.67 million from RM92.89 million in 3QFY16.
For the cumulative nine months (9MFY17), net profit rose to RM171.36 million from RM119.13 million in the previous corresponding period. Revenue increased 42% to RM403.07 million from RM284.59 million.
The group recommended a second interim dividend of 15 sen.
Muhibbah Engineering (M) Bhd's net profit for the fourth quarter ended Dec 31, 2016 (4QFY16) rose 61.2% to RM32.4 million from RM20.1 million a year earlier. This was mainly due to improvement in the construction division, export tax incentive allowance for the crane division and higher contribution from the airports concession division.
Revenue leapt 64.2% to RM645.7 million from RM393.4 million in 4QFY15.
For the full year, net profit climbed 20.6% to RM105.5 million from RM87.5 million, on the back of a 12.4% rise in revenue to RM1.9 billion from RM1.7 billion in FY15.
The board proposed a first and final dividend of 5.5 sen amounting to RM26.4 million for FY16.
http://www.theedgemarkets.com/my/article/cimb-group-fgv-mah-sing-press-metal-malaysia-airports-nestle-boustead-shell-bumi-armada
