MALAKOF 5264 MALAKOFF CORPORATION BERHAD 2Q net profit edges slightly higher to RM119 mil, declares 2.8 sen dividend

 MALAKOF 5264 MALAKOFF CORPORATION BERHAD 2Q net profit edges slightly higher to RM119 mil, declares 2.8 sen dividend

KUALA LUMPUR (Aug 23): Malakoff Corp Bhd saw its net profit for the second quarter ended June 30, 2022 (2QFY22) rise marginally to RM119.15 million from RM117.73 million on higher contribution from Tanjung Bin Power Sdn Bhd (TBP) and lower net finance costs.

Revenue for the quarter climbed 46.33% to RM2.32 billion from RM1.58 billion, primarily due to higher energy payments recorded from TBP and Tanjung Bin Energy Sdn Bhd (TBE) on the back of higher applicable coal price.

The group declared an interim dividend of 2.8 sen per share to be paid on Oct 27, its filing with Bursa Malaysia on Tuesday (Aug 23) showed.

For the cumulative six months ended June 30, 2022 (6MFY22), Malakoff's net profit declined by 4.6% to RM170.03 million from RM178.18 million, due to lower contribution from TBE caused by lower capacity income as a result of the low-pressure turbine blade outage, and higher operational and maintenance costs.

Revenue in 6MFY22 grew 43.15% to RM4.2 billion from RM2.94 billion primarily due to higher energy payments recorded from TBP and TBE on the back of higher applicable coal price.

Looking ahead, the group expects overall performance to remain satisfactory for FY22.

On Tuesday, Malakoff ended its trading day at 65.5 sen, down 0.76% or half a sen, translating into a market value of RM3.27 billion. It is currently trading at a historical price-earnings ratio of 12.76 times, offering a dividend yield of 7.79%.

http://www.theedgemarkets.com/article/malakoff-2q-net-profit-edges-slightly-higher-rm119-mil-declares-28-sen-dividend