Boustead Holdings Bhd achieved a Profit After Taxation and Zakat (PAT) at RM42.6 million against a Loss After Taxation and Zakat (LAT) of RM66.1 million in the same quarter last year (Q2 FY2020).
For the Q2 FY2021, the Group achieved a Profit Before Taxation and Zakat (PBT) of RM81.2 million from a Loss Before Taxation and Zakat (LBT) of RM57.4 million in the previous corresponding quarter last year. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) surged by 109% to RM209.1 million in contrast to RM100.1 million in Q2 FY2020 due to better results from operations.
The Group’s revenue in Q2 FY2021 grew to RM2.6 billion from RM1.5 billion in the previous corresponding quarter.
The commendable results were attributed to the improved performance from all divisions within the Group, a higher share of results from associates and joint ventures as well as recognition of a one-off gain on disposal of an investment property of RM13.1 million.
For the cumulative period ended 30 June 2021 (1H FY2021), Boustead’s PAT stood at RM130.0 million in contrast to a LAT of RM141.6 million for the corresponding period of the preceding year (1H FY2020).
PBT for 1H FY2021 was recorded at RM202.5 million, compared to a LBT of RM110.7 million in the previous year’s corresponding period. All Divisions particularly Plantation and Trading, Finance & Investment recorded overall improved performance and the bottom-line was further bolstered by one-off gains on a disposal of a hotel at RM84.6 million and an investment property as mentioned above.
