Eastern & Oriental Bhd Reports Unaudited Consolidated Earnings Results for the First Quarter Ended June 30, 2012; to Propose First and Final Dividend for the Year Ended March 31, 2012
August 16, 2012
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Eastern & Oriental Bhd reported unaudited consolidated earnings results for the first quarter ended June 30, 2012. For the quarter, the company's profit attributable to owners of the parent was MYR 30,318,000 or 2.74 sen per basic and diluted share on revenue of MYR 139,521,000 compared to owners of the parent were MYR 51,892,000 or 4.77 sen diluted share on revenue of MYR 75,883,000 for the same period in the last year. Operating profit was MYR 34,290,000 and profit before tax of MYR 40,840,000 compared to operating profit of MYR 71,392,000 and profit before tax of MYR 70,690,000 for the same period in the last year. Net cash used in operating activities was MYR 14,574,000 compared to net cash generated from operating activities of MYR 68,992,000 for the same period in the last year. Purchase of property, plant and equipment was MYR 5,959,000 against MYR 10,973,000 a year ago. Purchase of intangible assets was MYR 6,000 against MYR 14,000 a year ago. The increase in revenue was mainly from the properties segment which registered an increase of MYR 62.617 million. The hospitality segment also showed an increase of MYR 1.607 million, whereas the investments and others segment showed a slight decrease in revenue. The profit before tax represented a decrease of 42%. The higher profit in the comparative quarter ended 30 June 2011 was mainly due to the fair value gain of MYR 58.146 million on an investment property which had been disposed. Net assets per share attributable to ordinary equity holders of the parent was MYR 1.20 as on June 30, 2012 compared to MYR 1.17 as on June 30, 2011.
The company announced that at the forthcoming Annual General Meeting, a first and final dividend in respect of financial year ended March 31, 2012, of 4.25% less 25% income tax on the ordinary stock units in issue will be proposed for stockholders' approval.
Eastern & Oriental Berhad is a Malaysia-based lifestyle property development company. The Company's principal activities are investment holding and the provision of management services to its subsidiaries. The Company operates through three segments: Properties, Hospitality, and Investments and others. Properties segment is engaged in sales, development and investment in residential and commercial properties. Hospitality segment is engaged in the management and operation of hotels, serviced apartments and restaurants. The Companyâs properties include Arica, Andaman, The Meg, Martinique, Abrezza, Skye, Cayman, Caspian, Avalon, Acacia, Ariza, Amaris, Andorra, Quayside Seafront Resort Condominiums and others. Its subsidiaries include E & O Property Development Berhad (E&OPROP), Dynamic Degree Sdn. Bhd., E & O Developers Sdn. Bhd., Eastern & Oriental Hotel Sdn. Berhad, Matrix Promenade Sdn. Bhd., and others. E&OPROP is engaged in investment holding and provision of management services.
Eastern & Oriental Bhd Reports Unaudited Consolidated Earnings Results for the First Quarter Ended June 30, 2012; to Propose First and Final Dividend for the Year Ended March 31, 2012