Atlan posts flat y-o-y Q2 earnings - Business News | The Star Online


Atlan posts flat y-o-y Q2 earnings

KUALA LUMPUR: Atlan Holdings Bhd reported earnings of RM9.64mil for the quarter ended Aug 31, 2017, which was relatively flat compared to RM9.58mil posted in the year-ago quarter.

Group revenue was similarly flat at RM199.36mil as compared to RM199.63mil in the year-ago quarter.

FOr the six-month period to August 31, Atlan recorded total earnings of RM21.07mil versus RM25.27mil posted in the first half of its previous financial year.

The group has declared a dividend of five sen per share with an ex-date of Oct 30.

In the segmental breakdown of its quarterly results, Atlan reported a drop in revenue in its duty free segment to RM148.3mil from RM156.87mil in the year-ago quarter, owing to the imposition of Goods and Services Tax at the border outlets and duty free zones at the start of 2017. 

The segment's profits, which amounted to RM20.51mil were also affected by higher management fees although the decrease was offset by savings in transport costs.

The group's property and hospitality segments similarly also experienced a decline in revenue to RM7.1mil from RM7.57mil previously due to lower occupancy rates.

However, the automotive segment received higher orders from customers resulting in a 23.7% better revenue of RM43.25mil, from the previous corresponding quarter.

The investment holding segment reported a gain RM519,000 in the current quarter as compared to a loss of RM1.35mil in the previous corresponding quarter owing to a recognition of gain arising from changes in the fair value of options. 

In the "others" segment, there were slightly lower losses of RM3.09 mil in the current quarter as compared to losses of RM3.12mil owing to lower operating expenses.

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