Perak Transit Posts 10% Profit Increase For Q3, Declares 0.75 sen Dividend

Perak Transit Berhad reported strong earnings for the current quarter (3QFY23) with a profit after tax of RM16.6 million, an increase of 10.4% year-on-year as compared to last year’s quarter (3QFY22) of RM15.0 million. In line with the strong financial performance, the Group also announced a fourth interim dividend of 0.75 cents per share, payable on 14 February 2024.

The group posted total revenue of RM43.7 million and profit before tax (“PBT”) of RM20.8 million for 3QFY23, a quarter-on-quarter increase of 5.1% and 3.6% respectively, in comparison to the preceding quarter’s (2QFY23) revenue of RM41.5 million and PBT of RM20.1 million. The increase in revenue and PBT was mainly due to higher contribution from telecommunication tower construction and the Stage Bus Service Transformation programme.

On a cumulative basis for 9-month ended 30 September 2023 (9MFY23), revenue of RM132.6 million was higher by 3.3%, while PBT slightly decreased by 1.2% to RM62.4 million as compared to the preceding year’s 9-months ending 30 September 2022 (9MFY22) revenue of RM128.4 million and PBT of RM63.2 million. The higher revenue was mainly attributed to higher contributions from project facilitation fee, revenue sharing from logistic tenants profit sharing from terminal management; and contribution from telecommunication tower construction.

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