The Group's revenue for 2Q21 and YTD were 28% and 3% higher than the corresponding period last year with higher contribution from all divisions except Property Division.
Operating Profit for 2Q21 and YTD also registered increase of 34% and 2% respectively with higher contribution from all divisions except Property and Credit Financing Divisions.
PBT and PAT for 2Q21 and YTD also benefitted from lower finance costs due to lower borrowings and lower costs of fund.
Consequently, EPS for 2Q21 and YTD at 3.92 sen and 8.77 sen respectively were 121% and 7% above last year.
(RM' Million)
2Q21
2Q20
Change
YTD
YTD
Change
2021
2020
Revenue
1,262.4
989.6
28%
2,540.0
2,464.6
3%
Gross profit 1
356.2
261.0
36%
735.1
676.2
9%
EBITDA
260.7
200.7
30%
559.0
543.6
3%
Operating profit 2
215.2
160.8
34%
466.0
456.8
2%
Finance expenses
(44.3)
(65.5)
(32%)
(96.3)
(129.1)
(25%)
Profit before tax
172.2
92.6
86%
373.8
326.9
14%
Taxation
(49.0)
(46.6)
5%
(110.0)
(117.3)
(6%)
Profit after tax
123.2
46.0
168%
263.8
209.6
26%
Attributable to
shareholders
97.5
44.1
121%
218.3
204.4
7%
Attributable to MI
25.7
1.9
1213%
45.5
5.2
781%
EPS (sen)
3.92
1.77
121%
8.77
8.21
7%
Note:
Includes share of Inverfin's PBIT
Includes Interest Income, Share of Inverfin's PBIT by Property Division and share of associate and JV's PAT by Hafary; and share of JV's PAT by MMSB.
4
Group segment results
(RM' Million)
REVENUE
OPERATING PROFIT
REVENUE
OPERATING PROFIT
2Q21
2Q20
Change
2Q21
2Q20
Change
YTD
YTD
Change
YTD
YTD
Change
2021
2020
2021
2020
Plantation
181.1
83.6
117%
63.4
32.0
98%
302.4
185.4
63%
103.2
25.6
303%
Property 1
201.7
246.0
(18%)
83.3
144.4
(42%)
469.5
736.9
(36%)
226.9
397.5
(43%)
Credit Financing
73.9
71.1
4%
51.3
58.8
(13%)
147.3
145.5
1%
107.1
125.8
(15%)
Automotive
264.8
196.1
35%
(3.7)
(19.2)
81%
577.0
474.0
22%
(1.2)
(29.2)
96%
Trading2
459.0
394.4
16%
22.5
(15.7)
243%
900.1
871.6
3%
42.2
(0.2)
>1000%
Building Materials 3
132.2
36.3
264%
10.8
(16.6)
165%
253.7
156.0
63%
26.6
(10.7)
349%
Subtotal
1,312.7
1,027.5
28%
227.6
183.7
24%
2,650.0
2,569.4
3%
504.8
508.8
(1%)
Consolidation
adjustments &
(50.3)
(37.9)
(12.4)
(22.9)
(110.0)
(104.8)
(38.8)
(52.0)
others
Group
1,262.4
989.6
28%
215.2
160.8
34%
2,540.0
2,464.6
3%
466.0
456.8
2%
Note:
Includes share of Inverfin's PBIT from Menara Citibank
Includes share of JV's results by MMSB
Includes share of associate and JV's results by Hafary
5
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Hap Seng Consolidated Bhd published this content on 27 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2021 00:10:03 UTC.
Hap Seng Consolidated Berhad is a Malaysia-based investment holding company. The Company's segments include Plantation, Property, Credit Financing, Automotive, Trading, Building materials and Other. The Plantation segment is engaged in the cultivation of oil palm and processing of fresh fruit bunches. The Property segment includes property investment, property development and hospitality. The Credit Financing segment is engaged in the provision of financial services. The Automotive segment is engaged in the trading in motor vehicles, spare parts and servicing of motor vehicles. The Trading segment is engaged in the trading and distribution of fertilizers and agro-chemical, trading of general building materials and petroleum products, and manufacturing and trading of tiles. The Building materials segment includes operation of stone quarries and asphalt plants, and manufacturing of bricks. It operates in Malaysia, with market presence in Singapore, Indonesia, China and United Kingdom.
HAP SENG CONSOLIDATED 
