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Friday, February 18, 2011

Hap Seng 4Q net profit surges to RM103m, proposes 50% dividend payout totaling RM123.9m (BT)

HAP SENG CONSOLIDATED BHD []'s net profit for the fourth quarter ended Dec 31, 2010 surged to RM103.13 million from RM7.69 million a year ago, driven by improvement in revenue in all divisions except for fertilisers trading which was affected by lower average selling prices.

It said on Friday, Feb 18 that revenue rose 19.3% to RM810.88 million from RM679.6 million. Earnings per share were 18.30 sen while net assets per share was RM4.59.

For the financial year ended Dec 31, 2010, Hap Seng’s net profit rose 222% to RM323.16 million from RM100.24 million a year ago. Its revenue rose to RM2.79 billion from RM2.46 billion.

Hap Seng proposed to pay out as final dividend about 50% of its net profit tax and minority interest totalling RM123.98 million or 22 sen per share.

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