Hua Yang 4Q profit rises 31%, declares 8.25 sen dividend

Hua Yang 4Q profit rises 31%, declares 8.25 sen dividend
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Wednesday, 22 May 2013 19:14


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KUALA LUMPUR (May 22): Property developer HUA YANG BHD [] enjoyed a 31% rise in net profit for its final quarter from steady CONSTRUCTION [] progress recognition of all ongoing projects.

The company also declared a dividend of 8.25 sen per share, bringing the full-year dividend to 13.25 sen per share.

In a filing with Bursa Malaysia, Hua Yang reported that net profit for its fourth quarter ended March 31, 2013 (1QFY13) was RM17.01 million against the previous year’s RM13.01 million.

Hua Yang’s revenue in the quarter under review came to RM102.4 million. This was 21% higher than the previous corresponding quarter’s RM84.28 million.

For FY13, the company’s cumulative net earnings were RM70.47 million or 36.58 sen per share. This was a 33% improvement from the previous year’s RM52.95 million or 28.84 sen per share.

Its full-year revenue was RM408.67 million, also up 33% from FY12’s RM306.41 million.

“Based on the group's pipeline of ongoing and upcoming projects, the board is positive of posting improved results for FY14,” Hua Yang commented on its prospects.

HUAYANG 5062

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