Malakoff reported a lower net profit of RM310.0m (-12.8% YoY) for
FY17. Excluding the one-off insurance claim received by Kapar Energy
Ventures (KEV) amounting to RM20m in 2Q17, compensation from IHI
(estimated at about RM100m) and under-provision of prior years’ taxation
in 3Q17, and net foreign exchange loss, its FY17 core net earnings of
RM264.4m was below our and consensus’ expectations at 90% and 85% of
full year estimates respectively.
The discrepancies were mainly due to lower-than-expected other income and higher income tax expenses.
Malakoff declared a final single-tier dividend of 3.7 sen.
The discrepancies were mainly due to lower-than-expected other income and higher income tax expenses.
Malakoff declared a final single-tier dividend of 3.7 sen.
No comments:
Post a Comment