Boustead net profit jumps to RM99.6mil in 3Q

KUALA LUMPUR: Boustead Holdings Bhd’s net profit jumped 79 per cent to RM99.60 million in the third quarter (Q3) ended Sept 30, 2022, from the RM55.70 million chalked up in the corresponding period last year.

Revenue for the period fell to RM3.67 billion compared with RM3.68 billion earlier.

Earnings were up after taking into account the allocation to non-controlling interests and perpetual sukuk holders, the conglomerate said in a filing with Bursa Malaysia today.

Profit before taxation and zakat in Q3 2022 was down 67 per cent at RM78.40 million mainly on lower contributions from the plantation and pharmaceutical divisions during the quarter.

"Nevertheless, this was partly compensated by a higher share of results in associates arising from Affin Bank's contribution,” it added.

In a separate filing, Boustead Holdings, which is a subsidiary of the Armed Forces Fund Board (LTAT), announced the appointment of LTAT chief investment officer Muhammad Fitri Othman as a non-executive director effective Dec 1, 2022.

Meanwhile, LTAT head of corporate finance Irfan Hashim has been named the alternate director to Datuk Ahmad Nazim Abdul Rahman, who is also LTAT chief executive officer, effective the same date. - Bernama

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Boustead , Affin Bank , LTAT


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