Coastal Contracts 4Q net profit marginally stronger
Written by Financial Daily
Thursday, 24 February 2011 11:57
KUALA LUMPUR: Coastal Contracts Bhd’s net profit for 4QFY10 ended Dec 31 rose 3% to RM55.66 million from RM54.03 million a year ago, underpinned mainly by the delivery of higher end vessels.
In a filing with Bursa Malaysia yesterday, the group said revenue climbed 35% to RM203.4 million from RM150.9 million previously, while posting basic earnings per share of 15.36 sen versus 14.97 sen for the previous corresponding period. No interim dividend was declared for 4Q. Costal’s net assets per share stood at RM1.66.
For FY10 ended Dec 31, the group’s net profit surged 24% to RM200.87 million from RM162.44 million in FY09 on the back of improved revenue of RM675.25 million versus RM466.05 million in FY09.
On its prospects, Coastal expects a “reasonably satisfactory” financial performance for 2011 backed by the strong revenue visibility of the shipbuilding division’s vessel sales order book.
Shares in Coastal yesterday added 11 sen to close at RM2.71 with turnover of 706,100 units.
This article appeared in The Edge Financial Daily, February 24, 2011.
Written by Financial Daily
Thursday, 24 February 2011 11:57
KUALA LUMPUR: Coastal Contracts Bhd’s net profit for 4QFY10 ended Dec 31 rose 3% to RM55.66 million from RM54.03 million a year ago, underpinned mainly by the delivery of higher end vessels.
In a filing with Bursa Malaysia yesterday, the group said revenue climbed 35% to RM203.4 million from RM150.9 million previously, while posting basic earnings per share of 15.36 sen versus 14.97 sen for the previous corresponding period. No interim dividend was declared for 4Q. Costal’s net assets per share stood at RM1.66.
For FY10 ended Dec 31, the group’s net profit surged 24% to RM200.87 million from RM162.44 million in FY09 on the back of improved revenue of RM675.25 million versus RM466.05 million in FY09.
On its prospects, Coastal expects a “reasonably satisfactory” financial performance for 2011 backed by the strong revenue visibility of the shipbuilding division’s vessel sales order book.
Shares in Coastal yesterday added 11 sen to close at RM2.71 with turnover of 706,100 units.
This article appeared in The Edge Financial Daily, February 24, 2011.
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