29 / 204
+5.0
%
Increase Y-o-Y
Shareholders’ Funds
23.90
sen
Earnings Per Share
+5.3
%
Increase Y-o-Y
Net Assets Per Share
Dear Shareholders,
F
YE2019 proved to be a very challenging period for the
Group. We had to navigate uncertainties in our operating
environment and volatile commodity prices which, in
the case of the latter, had created major challenges for our
plantation segment. Our focus during the year therefore has
been on what we can control, driving underlying performance
delivery and ensuring financial discipline as we continue to
prioritise our resources amid tough trading conditions.
Performance
The Group delivered a credible performance under these
difficult circumstances, which is in line with the cautious
outlook statement made in last year’s Annual Report. Amid
tough trading conditions, Group revenue decreased 14.0% to
RM244.72 million (FYE2018: RM284.65 million), reflecting the
impact of lower commodity prices on our plantation segment
coupled with continuing lower volumes in our manufacturing
segment.
However, the Group registered a PBT of RM79.48 million,
30.4% higher compared to RM60.97 million recorded last year
principally attributable to the reversal of previously recorded
impairment on plant, property and equipment (“PPE”) taken in
Q2 of FYE2019 of RM23.63 million (discussed below). Without
the write back of impairment, the Group PBT would be RM55.85
million, 8.40% lower than last year.
Group Earnings Before Interest and Taxation (“EBIT”) increased
27.2% to RM79.65 million. Earnings and net assets per share
stood at 23.90 sen and RM2.39 sen, respectively, from 14.15 sen
and RM2.27 respectively, from the year before.
As at 31 March 2019, we have cash of RM205.98 million
comprising cash and bank balances and short-term cash
investment of RM57.86 million and RM148.12 million respectively.
Our capital expenditures for FYE2019 totalled RM22.91 million
(FYE2018: RM9.91 million).
FYE2018 FYE2019
RM
Million
RM
Million
%
Change
Manufacturing
140.78
134.78
(4.3)
Plantation
138.10
102.84
(25.5)
Property
Management
5.77
7.10
23.2
Total
284.65
244.72
(14.0)
FYE2018 FYE2019
RM
Million
RM
Million
%
Change
Manufacturing
22.81
30.56
34.0
Plantation
40.28
47.43
17.8
Property
Management
1.61
1.45
(9.9)
Associate
Companies
1.70
3.73
120.0
Others
(5.43)
(3.70)
(31.9)
Total
60.97 79.48
30.4
Group Revenue
RM244.72mil
Group Profit Before Tax
RM79.48mil
performance
review
25