Boustead Holdings Bhd announced its financial results for the third quarter ended September 30 (Q3 FY2021), posting a Profit Before Taxation and Zakat (PBT) of RM239.9 million which is a significant turnaround and improvement as compared to Loss Before Taxation and Zakat (LBT) of RM14.3 million in the same quarter last year (Q3 FY2020).
The Group recorded Profit After Taxation and Zakat (PAT) of RM147.3 million compared to Loss After Taxation and Zakat (LAT) of RM35.0 million in the corresponding quarter last year.
Moreover, Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) surged at 144% to RM370.7 million from RM152.1 million in Q3 FY2020, attributable to better results from operations. The Group’s revenue in Q3 FY2021 also grew to RM3.68 billion from RM1.89 billion in the previous corresponding quarter.
The overall improved results were driven by better contributions and improved performance in almost all divisions within the Group as well as higher share of results from associates.
For the cumulative period ended 30 September 2021 (9M FY2021), the Group achieved a turnaround with a PBT of RM442.4 million compared to LBT of RM125.0 million in last year’s corresponding cumulative period (9M FY2020). This signifies the Group’s continuous effort to deliver sustainable growth in the overall performance.
The Group posted a PAT of RM277.3 million for 9M FY2021 in contrast to LAT of RM176.7 million in the same period last year.
During the same period of 9M FY2021, Boustead rebounded with a stronger operational performance by attaining a two-fold jump in EBITDA to RM854.0 million from RM359.5 million in 9M FY2020, while revenue for 9M FY2021 increased to RM8.35 billion from RM5.65 billion in last year’s corresponding period.
All divisions within the Group particularly Plantation, Pharmaceutical and Trading, Finance & Investment delivered stronger performance in 9M FY2021. The bottom line was further bolstered by one-off gains on disposal of Royale Chulan Bukit Bintang Hotel (RCBB) and an investment property at RM84.6 million and RM13.1 million respectively.
