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JCorp's pre-tax profit up 121 pct to RM1.37 bln
by Cals Thu 20 Mar 2014, 19:05
| JCorp's pre-tax profit up 121 pct to RM1.37 bln |
| Business & Markets 2014 |
| Written by Bernama |
| Thursday, 20 March 2014 18:03 |
KUALA LUMPUR (March 20): Johor Corp's (JCorp) pre-tax profit for financial year ended Dec 31, 2013, rose by 121 per cent to RM1.37 billion, from RM617 million in the same period of 2012.
"The group's pre-tax profit was against the backdrop of RM6.57 billion revenue, which did not take into account the quick service restaurant sector, which was equity accounted, following the acquisition of QSR Brands Bhd," it said in a statement, here today.
JCorp said that 85 per cent of the profits were derived from the three core businesses — plantation, property and healthcare.
The robust performance was also due to JCorp's strategic business transformation plan, that continued to develop and grow its core sectors, it said.
President/Chief Executive, Datuk Kamaruzzaman Abu Kassim, said JCorp's plantation segment would register commendable earnings this year, driven by strong business fundamentals in the long term, higher fresh fruit bunches yield and progressive replanting, that has increased matured palm oil area.
"JCorp is also expanding its plantation landbank to Indonesia, via the takeover of 75 per cent equity in PT Wisesa Inspirasi Nusantara, increasing its total landbank by 40,000 hectares," he said.
He said that the move would also enable the group to explore opportunities in downstream and upstream oil and gas sectors.
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