DRB-Hicom Q4 net profit up 136% to RM166.9mil, declares 4.5 sen dividend

KUALA LUMPUR: DRB-Hicom Bhd’s net profit for its fourth quarter ended March 31, 2014 rose 136% to RM166.96mil from RM70.58mil a year ago due to gain on disposals of an insurance subsidiary company and land in Johor in the preceding quarter.

In a Bursa Malaysia filing on Thursday, the group said its revenue rose 23% to RM4.16bil from RM3.36bil a year ago as its automotive and defence, asset and construction business and property contributed to the revenue growth.

Its earnings per share for the period stood at 8.64 sen from 3.65 sen a year ago.

The group has also declared a 4.5 sen dividend.

For its full year, DRB-Hicom’s net earnings dropped 20.5% to RM456.81mil from RM575.3mil a year ago.

Revenue rose 8.1% to RM14.2bil from RM13.13bil.

With the positive economic outlook, supported by the Government’s Economic Transformation Programmes, the group said it will continue to pursue its business strategies and to strengthen and expand its core businesses through improvements in operational efficiencies and effective cost management.

“The group expects to achieve satisfactory performance for the financial year ending March 31, 2015," it said.