QL Resources' 4Q net profit jumps 21%, declares 4.25 sen dividend

by **Cals** Tue 26 May 2015, 19:44

QL Resources' 4Q net profit jumps 21%, declares 4.25 sen dividend

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By Sulhi Azman / theedgemarkets.com | May 26, 2015 : 6:11 PM MYT

KUALA LUMPUR (May 26): Egg producer [size=14]QL Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) announced its net profit for the fourth quarter ended March 31, 2015 (4QFY15) had jumped 21% to RM46.7 million or 3.74 sen per share, from RM38.61 million or 3.22 sen per share, thanks to higher profit contribution from its integrated livestock farming and marine products, which surged 53% and 41% respectively.

Quarterly revenue rose 9% to RM661.59 million, from RM606.87 million in 1QFY14, boosted by sales of its marine product manufacturing, which increased 29% due to higher contribution from Indonesia's fishery, surimi-based products, as well as Sabah frozen seafood operations.

QL Resources declared a dividend of 4.25 sen per share.

For the full year ended March 31, 2015 (FY15), QL Resources reported a 19% increase in net profit to RM190.54 million or 15.27 sen per share, from RM159.93 million or 13.79 sen per share in FY14, on a 10% growth in revenue to RM2.7 billion, from RM2.46 billion a year ago.

Segmentally, QL Resources marine products division contributed 51.4% to the group’s pre-tax profit, followed by integrated livestock farming (43.3%) and palm oil plantation (5.3%).

“Barring unforeseen events, our management expects the 1QFY16 results to be satisfactory,” said QL Resources (fundamental: 1.1; valuation: 1.1) in a filing with the local bourse this evening.

QL Resources currently operates eight commercial farms in Malaysia, Indonesia and Vietnam.

It also has palm oil plantation and milling activities in Malaysia and Indonesia, with two palm plantations and three independent palm oil mills.

The stock has risen by 5.47% from RM3.84 on May 13 to close at RM4.05 today, giving it a market capitalisation of RM5.05 billion.

Year-to-date, QL Resources’ shares have gained by 7.5 sen or 22.73%.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations)
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