- Genting Bhd's Q2 earnings down 20.6% to RM534.5mil
- MPHB Q2 earnings up 93.1% to RM134.6m, boost from financial services
- Telekom Malaysia Q2 earnings jump 173% to RM348.4m
Posted: 29 Aug 2012 05:25 AM PDT
KUALA LUMPUR: Genting Bhd's earnings fell 20.6% to RM534.55mil in the second quarter ended June 30, 2012 from RM673.22mil a year ago, impacted by a decline in casino business and weaker plantations performance.
It said on Wednesday its revenue increased 1.1%to RM4.512bil compared with RM4.462bil while earnings per share were 14.47 sen compared with 18.17 sen. It declared an interim dividend of 3.5 sen a share.
Elaborating on the divisions, the Genting group said higher revenue was recorded from the leisure and hospitality and property divisions. However, group profit before tax fell 10% to RM1.391bil compared with RM1.548bil a year ago.
"Revenue from Resorts World Sentosa (RWS) was affected by the marginally lower casino business when compared with Q2, FY11. Consequently, the adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of RWS was lower than Q2, FY11," it said.
As for the leisure and hospitality business at Resorts World Genting in Malaysia (RWG), it performed better due mainly to the overall higher volume of business and higher hold percentage in the premium players business. This contributed to the higher EBITDA of RWG in Q2, FY12.
Genting said revenue from the UK operations increased, benefiting from overall higher volume of business and higher hold percentage of its London casino operations.
"Revenue and EBITDA from the leisure and hospitality business in the US in 2QFY12 were mainly from the operations of Resorts World Casino New York City (RWNYC), which marked its debut on Oct 28, 2011," it said.
The power division recorded a decline in revenue, attributed to lower generation by the Meizhou Wan and Kuala Langat power plants.
Its plantation division owned by Genting Plantations Bhd recorded lower revenue due to lower palm product selling prices and lower fresh fruit bunches production as well as lower EBITDA due to the foregoing and rising input costs.
For the first half, its earnings declined 17.9% to RM1.228bil from RM1.497bil in the previous corresponding period. Its revenue declined 4.4% to RM8.933bil from RM9.352bil.
Posted: 29 Aug 2012 04:53 AM PDT
KUALA LUMPUR: Multi-Purpose Holdings Bhd's (MPHB) earnings surged 93.1% to RM134.62mil in the second quarter ended June 30, 2012 from RM69.69mil a year ago, boosted by its financial services segment.
MPHB said on Wednesday, at the pre-tax profit level, it declined 2.6% to RM129.48mil from RM132.93mil. Its revenue increased by a marginal 0.7% to RM872.21mil from RM865.57mil a year ago. Its earnings per share were 9.4 sen compared with 6.3 sen.
"The gaming and stockbroking divisions recorded lower profit before tax mainly due to higher payout ratio in gaming sivision as well as lower brokerage, margin interest income and earning from proprietary trading in the stockbroking division.
"However, this is mitigated by improved performance in financial services division as a result of higher underwriting income, gain on fair value adjustment and sale of shares in an associated company in corporate and others division," it said.
On the gaming operations, MPHB said pre-tax profit fell 31.4% from RM99.9mil a year ago "due to stiff competition from competitors and higher payout ratio recorded in current quarter which is mitigated by lower finance cost due to consistent loan repayment".
However, the financial services division fared better with higher profit before tax of RM20.6mil versus RM14.5mil a year ago. It attributed this mainly due to the better underwriting results and lower fair value loss on investment securities.
MPHB's corporate and others division contributed a profit before tax of RM88.1mil versus RM66.3mil a year ago, mainly derived from gain on fair value adjustment and sale of shares in an associated company.
In the first half ended June 30, 2012, its earnings showed a 38.3% increase to RM218.35mil from RM157.78mil in the previous corresponding period.
However, profit before tax fell 16.3% to RM251.0mil from RM300mil due to lower contributions from gaming, stockbroking and financial services divisions were recorded. Revenue slipped 1.4% to RM1.784bil from RM1.811bil.
Posted: 29 Aug 2012 04:37 AM PDT
KUALA LUMPUR: Telekom Malaysia Bhd's earnings rose 173% to RM348.45mil in the second quarter ended June 30, 2012 from RM127.24mil a year ago and it rewarded shareholders with an interim dividend of 9.8 sen a share.
It announced on Wednesday that the higher earnings were mainly due to the higher revenue, change of useful life of network assets and recognition of deferred tax income, which partially offset the impact of unrealised foreign exchange loss on borrowings in the current year quarter.
"Normalised PATAMI also showed improvement, with a growth of 64.9% on-year to RM223.0mil from RM135.2mil," it said.
TM's broadband segment continued to record growth, with Streamyx and UniFi customers growing by 9.9% on-year to 2.011 million customers. This pushed Internet revenue up19.2% on-year from RM487.9mil to RM581.6mil.
Revenue increased by 8.5% to RM2.425bil from RM2.233bil. Earnings per share were 9.70 sen compared with 3.60 sen.
The higher revenue was due to higher contribution from Internet and multimedia, other telecommunications and non-telecommunications related services.
"EBITDA grew 6.8% on-year from RM746.9mil to RM797.4mil. On a normalised basis, EBITDA increased by 3.2% YoY from RM768.1mil to RM792.3mil.
In the first half ended June 30, 2012, its earnings doubled or rose 106% to RM599.08mil from RM290.54mil. Revenue increased at a smaller pace of 9.7% to RM4.808bil from RM4.381bil.
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