Friday, 31 March 2017
Kumpulan Perangsang Selangor Berhad Newly-acquired Businesses Spur 300% Revenue Jump
- CBB and King Koil® make up 63.0% of 1Q17 revenue
- Group EBITDA1 improves to RM28.4 million from core EBITDA of RM23.7 million previously
Kuala Lumpur, Malaysia, 31 May 2017Kumpulan Perangsang Selangor Berhad - Diversified group Kumpulan Perangsang Selangor Berhad (KPS, Bursa: 5843; Bloomberg: KUPS:MK; Reuters: KPSB.KL) group revenue in the first quarter ended 31 March 2017 (1Q17) jumped 300.0% to RM76.8 million from RM19.2 million a year ago, on strong contributions from its newly-acquired businesses of Century Bond Bhd (CBB) and King Koil® Licensing Company Inc., (King Koil®).
Cement packaging provider CBB and global mattress brand King Koil® reported sales of RM39.6 million and RM8.8 million respectively, making up 63.0% of 1Q17 group revenue.
Also, the Group’s water-related trading business Aqua-Flo Sdn Bhd (Aqua-Flo) posted 66.9% higher revenue of RM25.2 million versus RM15.1 million in the preceding year corresponding quarter (1Q16) as it fulfilled its water chemical supply contracts to Pengurusan Air Selangor Sdn Bhd Group. The balance RM3.2 million revenue was derived from the Group’s investment holding and property investment.
KPS’ core earnings before interest, tax, depreciation and amortization (EBITDA) improved to RM28.4 million in 1Q17 compared to core EBITDA of RM23.7 million (excluding gain of RM97.5 million on assets held for disposal) in 1Q16. The RM4.7 million or 19.8% improvement in the EBITDA performance is largely due to contributions from CBB and King Koil®.
KPS Chief Executive Officer Encik Ahmad Fariz Hassan said:
“Our strategy in the current financial year ending 31 December 2017 (FY2017) is to build up our core businesses to contribute positively and incrementally by implementing revenue-accretive plans and optimising costs.
While our subsidiaries have made a good start, we will continue to focus on delivering on existing contracts and tendering for new orders in FY2017. We look forward to greater contributions when our growth plans bear fruit.”
Share of profit of associates dipped to RM23.7 million in 1Q17 from RM32.8 million in 1Q16, which led to 1Q17 profit before tax (PBT) of RM22.3 million, versus core PBT of RM21.9 million in 1Q16. Correspondingly, the group net profit attributable to shareholders stood at RM20.2 million in1Q17, from core net profit of RM18.9 million in 1Q16.
KPS’ trading business under Aqua-Flo has outstanding order book of water chemical supply contracts worth approximately RM56.0 million.
About Kumpulan Perangsang Selangor Berhad (www.perangsangselangor.com)
Incorporated in August 1975, Kumpulan Perangsang Selangor Berhad (“KPS” or the “Company”) is a public limited liability company listed on the Main Market of Bursa Malaysia Securities Berhad. The Company has a varied investment portfolio with assets involved in Manufacturing, Trading, Licensing, Infrastructure and Utility, Oil and Gas as well as Telecommunications. KPS is committed towards making significant contributions to human capital, intellectual, and sustainable developments, whilst strengthening its core businesses to optimise returns for its shareholders.
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