MBM advances on interim dividend

KUALA LUMPUR: MBM RESOURCES BHD [] (MBMR) shares advanced in early trade on Friday, Aug 12 after the company declared a first interim dividend of 6 sen per share exempted (single tier dividend) for the financial year ending Dec 31, 2011 to be paid on Sept 15.

At 9.27am, MBMR added seven sen to RM3.04 with 51,000 shares traded.

Its net profit for the second quarter ended June 30, 2011 fell 45.6% to RM21.11 million from RM38.78 million a year earlier, due mainly to full impact of the parts supply disruption from the recent earthquake in Japan.

Revenue for the quarter dipped to RM382.02 million from RM404.82 million. Earnings per share was 8.69 sen while net assets per share was RM4.36.

For the six months ended June 30, MBMR’s net profit fell to RM59.51 million from RM78.72 million in 2010, on the back of revenue RM791.83 million.

Reviewing its results, MBMR said on Thursday, Aug 11 that its overall performance was impacted by the shortage of parts supply as a result of the earthquake in Japan, of which the full impact was felt in the second quarter