HAP SENG CONSOLIDATED 1st Quarter Ended 31 March 2022 Results
30 May 2022
Scope
1
2
Group Financials
Operations Review
2
SECTION 1
Group Financials
Consolidated income statement summary
- The Group's businesses in 1Q22 benefitted from improving domestic demand as economic activities continued to normalize with the easing of COVID-19 containment measures.
- The Group's revenue for 1Q22 at RM1.65 billion and Operating Profit at RM305.8 million were 29% and 22% above last year due to higher contribution from all Divisions except Property and Credit Financing Divisions.
- The Group's results also benefitted from lower finance costs.
- Accordingly, the Group's Profit after tax increased by 30% and the EPS at 6.28 sen was 29 % above last year.
(RM' Million) | 1Q22 | 1Q21 | Change |
Revenue | 1,645.4 | 1,277.5 | 29% |
Gross profit 1 | 441.1 | 378.9 | 16% |
EBITDA | 351.9 | 298.4 | 18% |
Operating profit 2 | 305.8 | 250.8 | 22% |
Finance expenses | (42.1) | (51.9) | (19%) |
Profit before tax | 266.2 | 201.7 | 32% |
Taxation | (83.9) | (61.1) | 37% |
Profit after tax | 182.3 | 140.6 | 30% |
Attributable to | 156.3 | 120.9 | 29% |
shareholders | |||
Attributable to MI | 26.0 | 19.7 | 32% |
EPS (sen) | 6.28 | 4.85 | 29% |
Note:
- Includes share of PBIT of Inverfin (Menara Citibank) and Sunrise Strategy
- Includes Interest Income, Share of Inverfin and Sunrise Strategy's PBIT by Property Division and share of associate and JV's PAT by Hafary.
4
Group segment results
(RM' Million) | REVENUE | OPERATING PROFIT | ||||
1Q22 | 1Q21 | Change | 1Q22 | 1Q21 | Change | |
Plantation | 242.2 | 121.3 | 100% | 125.6 | 39.8 | 215% |
Property 1 | 131.1 | 267.8 | (51%) | 62.3 | 143.6 | (57%) |
Credit Financing | 61.6 | 73.4 | (16%) | 49.2 | 55.9 | (12%) |
Automotive | 371.3 | 312.2 | 19% | 10.9 | 2.5 | 333% |
Trading | 785.5 | 441.0 | 78% | 74.8 | 19.7 | 279% |
Building Materials 2 | 136.5 | 121.5 | 12% | 21.0 | 15.8 | 33% |
Subtotal | 1,728.2 | 1,337.2 | 29% | 343.8 | 277.3 | 24% |
Consolidation adjustments & | (82.8) | (59.7) | (38.0) | (26.5) | ||
others | ||||||
Group | 1,645.4 | 1,277.5 | 29% | 305.8 | 250.8 | 22% |
Note:
- Includes share of PBIT of Inverfin (Menara Citibank) and Sunrise Strategy
- Includes share of associate and JV's results by Hafary
5
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Hap Seng Consolidated Bhd published this content on 31 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2022 02:39:05 UTC.
