IOI Corp Bhd 4th Quarter down
Filed Under (Business News) by Webmaster on 27-08-2009
Tagged Under : 4th quarter 2009, IOI Corp
IOI Corp Bhd’s fourth-quarter ended June net profit fell 18% to RM487.1mil from a year ago, mainly due to lower profit contributions from its plantations and manufacturing divisions.
Revenue for the period slumped 31.5% to RM3.12bil. Earnings per share dropped to 8.21 sen against 9.91 sen previously.
It also recorded an impairment loss of RM242.8mil recognised on a development property in Singapore.
“Excluding the impairment loss, the group’s pre-tax profit was RM855.5mil which is about the same level” as the fourth quarter in the financial year ended June 30, 2008 (FY08), the plantation-based company said in the notes accompanying its results yesterday.
Going forward, IOI Corp said the global economic slowdown had shown signs of stabilising and that it was confident of a better performance in its current fiscal year.
