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Hap Seng 3Q profit up at RM141m, declares 8 sen dividend

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Hap Seng 3Q profit up at RM141m, declares 8 sen dividend Empty Hap Seng 3Q profit up at RM141m, declares 8 sen dividend

Post by Cals Wed 27 Nov 2013, 22:18

Hap Seng 3Q profit up at RM141m, declares 8 sen dividend
Business & Markets 2013
Written by Jeffrey Tan of theedgemalaysia.com   
Wednesday, 27 November 2013 18:50
KUALA LUMPUR (Nov 27): Hap Seng Consolidated Bhd’s net profit rose 27% year-on-year (y-o-y) to RM141 million in the third quarter ended Sept 30, 2013, from RM111 million a year ago.

But revenue fell 18% y-o-y to RM829 million from RM1.014 billion.

Hap Seng declared a second interim dividend of 8 sen per ordinary share of RM1.00 in the financial year ending Dec 31, 2013. The dividend will be payable in cash on Feb 14 next year.

In a filing to Bursa Malaysia, the diversified group said the better profit but poorer revenue was attributed by mixed performances from its divisions.

For the nine-month period, profit stood at RM446 million from RM300 million a year earlier, while revenue collected RM2.453 billion versus RM2.827 billion in the previous corresponding period.

Looking ahead and based on its performance, Hap Seng said the group is optimistic of achieving satisfactory results for the balance of the current financial year ending Dec 31, 2013.
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