BUSINESS

BOUSTEAD BACK TO PROFITABILITY IN THE THIRD QUARTER

30/11/2021 03:04 PM

KUALA LUMPUR, Nov 30 -- Boustead Holdings Bhd rebounded to record a net profit of RM55.7 million in its third quarter ended Sept 30, 2021 from a net loss of RM51.8 million in the same period a year earlier. 

In a filing with Bursa Malaysia today, the group said the improvement was driven by driven by strong performance, particularly from the plantation and pharmaceutical divisions.

Meanwhile, revenue for the quarter increased to RM3.68 billion from RM1.89 billion year-on-year.

For the nine-month period, Boustead recorded a net profit of RM91.5 million from a net loss of RM198.6 million, while revenue for the period jumped to RM8.35 billion against RM6.56 billion previously amid stronger performance in all divisions, particularly plantation, pharmaceutical and trading, finance and investment. 

“The bottom line was also bolstered by one-off gains on disposal of a hotel, Royale Chulan Bukit Bintang, and an investment property of RM84.6 million and RM13.1 million respectively,” said Boustead. 

Moving forward,  the group  said it would remain steadfast in its efforts to strengthen its operational and financial position driven by the Reinventing Boustead strategy.

It noted that under this strategy, Boustead aims to accelerate value creation with performance improvement programmes, tap into new revenue sources, rationalise non-strategic assets and venture into the technology sector and digital services. 

-- BERNAMA


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2024 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy