Solid 2011 & Q1 2012 Cements Foundation For Expected CMSB 2012 Growth
Sarawak (Kuching) – Wednesday, 30 May 2012,– Cahya Mata Sarawak Berhad (CMSB – 2852), the State’s leading infrastructure facilitator and growth catalyst today opened their 37th Annual General Meeting highlighting a solid performance in FY 2011. Of particular note was the group revenue – up 7.33% compared to the previous year. This translated to a PATNCI (profit after tax and non-controlling interests) up over 82% to RM120m, a return on equity growth of 3% to 8.8% and an earnings per share up by over 82%. Key drivers in the improved performance were the Construction & Road Maintenance Division (up 65.9%) and Manufacturing Division (up 27.3%) although all Divisions, bar the small educational division, contributed.
This strong performance was continued in the announcement of their Q1 2012 results with revenues up nearly 2% to RM230.34m over the corresponding Q1 2011 period and PBT up by 16% to RM49.9m over the corresponding Q1 2011 period. PATNCI for Q1 2012 increased by 2% to RM31.35m over the corresponding Q1 2011 period and, excluding a one-off gain on acquisition, the increase would have been 70%.
Speaking about the much improved performance, Dato’ Richard Curtis, Group Managing Director, Cahya Mata Sarawak Berhad said, “The bedrock for this growth has been our management team’s concerted efforts in recent years to be fully engaged and focused on enhancing the profitability of all our businesses through sound decision making, more customer focus and through building on our core competencies with prudent synergistic investments and acquisitions. While 2011’s and Q1 2012’s results have been stellar, these do not yet reflect the full impact of CMS’ transformation process. With the State’s infrastructure growth plans, SCORE developments underway and our strategic diversification into rising trend industries, 2012 is already showing signs of being another strong year.”
While CMSB’s core business divisions of construction materials manufacturing, property development, construction and road maintenance continue to benefit from the State’s accelerating economic growth, CMS’ newest business Division, Samalaju Development is poised to grow through its provision of workers’ accommodation and related services in Samalaju, as master developer of the new Samalaju Township and, later on, via our 20% stake in the 600,000 metric ton manganese and ferro alloy smelter which is being developed by Australian listed, OM Holdings Ltd.
The 37th Cahya Mata Sarawak Berhad AGM concluded leaving shareholders and stakeholders with a positive outlook for the new look business powerhouse and winner of the 2011 BrandLaureate – Conglomerate Award. Cahya Mata Sarawak Berhad’s future looks brighter than ever.
