KUALA LUMPUR (June 29): LB Aluminium Bhd’s net profit for the financial year ended April 30, 2021 (FY21) increased to RM41.8 million, from RM3.84 million in FY20.
Revenue rose to RM527.2 million from RM457.19 million a year ago, as business operations improved in FY21, after FY20 was impacted significantly by the Movement Control Order (MCO) 1.0, it said in a filing with Bursa Malaysia today.
For the fourth quarter, the company recorded a net profit of RM13.26 million against a net loss of RM9.1 in the same period last year, while revenue for the quarter increased to RM144.84 million from RM75.04 million in the same quarter last year.
It said it has proposed a first and final dividend of 2.5 sen per ordinary share, amounting to RM6.21 million, in respect of the current financial year ended April 30, 2021.
LB Aluminium said the proposed dividend is subject to the approval of shareholders at the upcoming annual general meeting to be held on a date that would be announced later.
“The date of payment of the dividend and the date for the determination of dividend entitlement would also be announced later,” it said.
On the prospects, it said the imposition of the MCO 3.0 would have an adverse impact on the company’s business as the operation was not allowed at normal capacity.
“However, we are positive that with the increase rate of vaccination in the country, the government will gradually reopen all economic sectors and that business and the Malaysian economy will return to normalcy,” it said.
On the property segment, it said the company’s investment in an associate, Vistarena Development Sdn Bhd, is expected to continue the positive contribution in the coming quarters.
“The residential development is 99.8% sold and the current construction progress is approximately 76.3%,” it added.
