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Friday, December 28, 2012

Yinson posts higher Q3 earnings


PETALING JAYA: Yinson Holdings Bhd posted an after-tax profit of RM9.33mil in the third quarter ended Oct 31, from RM8.03mil in the previous corresponding period.
The higher performance in the quarter under review, which translates into earnings of 4.34 sen per share, was achieved on revenue of RM192.5mil, a decline from RM194mil previously.
In a note to Bursa Malaysia yesterday, the company said it recorded a net profit of RM29mil on total revenue of RM692mil for the nine- months, representing a 40% and 26% increase, respectively, compared with the previous corresponding period.
Research houses, namely, Maybank and Kenanga Research, are forecasting Yinson to deliver aftertax profit of RM32mil and RM31mil, respectively.
With the cumulative earnings of RM29mil year to date, the company is confident of achieving these forecasts.

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