Kimlun’s 4Q net profit up 13%, plans 6.5 sen dividend

KUALA LUMPUR (Feb 28): Higher profit contribution from the manufacturing, construction and trading divisions lifted Kimlun Corp Bhd’s net profit by 13% to RM24.2 million or 7.8 sen per share in the fourth quarter ended Dec 31, 2016 (4QFY2016) compared with RM21.4 million a year ago.

Revenue grew marginally by 1.5% to RM235.3 million from RM231.9 million in 4QFY2015, it said in a bourse filing today.

The board proposed a final single-tier 6.5 sen dividend for the financial year ended Dec 31, 2016 (FY2016) and has determined the dividend repayment plan will apply to the final dividend, subject to approvals.

For the full financial year ended Dec 31, 2016 (FY2016), net profit grew 15.9% to RM81.9 million or 26.77 sen per share from RM70.7 million or 23.52 sen per share while revenue dropped 10.7% to RM940.7 million from RM1.05 billion in FY2015.

Kimlun has an estimated construction and manufacturing balance order book of approximately RM1.67 billion and RM260 million respectively as at Dec 31, 2016. “The balance order book provides a good earnings visibility to the group. The board is optimistic that the Malaysian and Singaporean construction sectors would continue to be vibrant in 2017, thus offering orderbook replenishment prospects,” it said.

Kimlun’s share price closed unchanged yesterday at RM2.16 for a market capitalisation of RM670.2 million. — theedgemarkets.com

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from TheEdgeProperty.com http://www.theedgeproperty.com.my/content/1079224/kimluns-4q-net-profit-13-plans-65-sen-dividend

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