KUALA LUMPUR: Poh Huat Resources Holdings Bhd
warns that the volatility of the US dollar against the ringgit will bring additional uncertainties to the group.
“Although we expect less turbulence in the US currently with the elections behind us, the future direction of the country remains unpredictable.
“The latest statement by the US Federal Reserve shares such sentiments. The pace and sustainability of growth are subject to government policies and economic structures and this will affect the direction of the world economy,” the furniture company said in the notes accompanying its financial results.
In the fourth quarter ended Oct 31, Poh Huat’s net profit fell 18% to RM8.8mil, or earnings per share of 3.34 compared with RM10.8mil, or 4.07 sen posted in the year-ago quarter.
Revenue, however, rose 23.7% to RM131mil versus RM105.9mil achieved last year.
For the full financial year, Poh Huat posted a net profit of RM29.3mil, up 9.9% from RM26.7mil while revenue expanded 11.11% to RM475.7mil against RM428.1mil last year.
Poh Huat has recommended a final dividend of 2 sen per ordinary share for the shareholders’ approval at the forthcoming annual general meeting of the company.
The dividend entitlement and payment date for the proposed dividend will be determined, and thereafter announced at a later date.
