KUALA LUMPUR (May 28): Eastern & Oriental Bhd’s (KL:E&O) net profit for the financial year ended March 31, 2024 (FY2024) tripled to RM133.61 million, from RM44.54 million a year earlier, on the back of higher revenue from the properties segment.
In a bourse filing on Tuesday, E&O said revenue for the full year rose to RM422.83 million from RM318.07 million.
For the fourth quarter ended March 31, 2024 (4QFY2024), net profit more than doubled to RM36.48 million from RM16.09 million.
Earnings per share rose to 1.87 sen from 1.10 sen.
E&O did not declare any dividend for the latest quarter.
Reviewing its performance, E&O said the improvement in full-year results was mainly due to higher revenue recognition from the properties and hospitality segments, and higher unrealised foreign exchange gains of RM52.4 million as compared to unrealised foreign exchange loss of RM7.6 million in the previous corresponding financial year.
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Source: EdgeProp.my
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